Economic Feasibility of Solar Energy in Russia

Экономическая целесообразность развития солнечной энергетики в России

Vera A. Barinova and Kseniya V. Demidova
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Vera A. Barinova: Russian Presidential Academy of National Economy and Public Administration; Gaidar Institute for Economic Policy
Kseniya V. Demidova: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 10, 18-31

Abstract: The authors of the article assess the economic feasibility of solar energy in Russian cities with a population of over 1 million people, and also offer several business models through which solar energy can be introduced in urban areas. The article uses the method of assessing the levelized cost of energy (LCOE) and the method of comparative analysis, provides an overview of international experience in the use of solar energy in cities. The authors also analyze the economic and social benefits of developing urban solar power plants. According to the results of the study, the production of solar electricity on the roofs of all largest cities in Russia can be economically beneficial for electricity consumers in retail markets right now. At the same time, the development of solar energy will also contribute to solving the problem of increasing peak loads during heat waves, reducing the need for air conditioning in buildings, solving the problem of energy shortage, reducing greenhouse gas emissions, developing the production of domestic high-tech equipment, and increasing the attractiveness of Russian cities, especially for young people. The article was written on the basis of the RANEPA state assignment research programme.

Keywords: greenhouse gas emissions; renewable energy; solar energy; solar power plants; levelized cost of electricity (LCOE); grid parity (search for similar items in EconPapers)
JEL-codes: M2 O13 R1 (search for similar items in EconPapers)
Date: 2023
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