Increasing Energy Efficiency and Modernization of Energy Systems in Russia: A Review

Wadim Strielkowski, Anna Sherstobitova, Patrik Rovny and Tatiana Evteeva
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Anna Sherstobitova: Department of Master’s Degree (Business Programs), Institute Finance, Economics and Management, Togliatti State University, Belorusskaya Str. 14, 445020 Togliatti, Russia
Patrik Rovny: Department of Marketing and Trade, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Tr. A. Hlinku 2, 949 76 Nitra, Slovakia
Tatiana Evteeva: Department of Marketing and Trade, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Tr. A. Hlinku 2, 949 76 Nitra, Slovakia

Energies, 2021, vol. 14, issue 11, 1-19

Abstract: The main purpose of this research is to assess the energy efficiency in Russia on its path towards the modernization of its energy systems. This modernization can be seen as an effective means for promoting decarbonization and energy-saving initiatives. Our methods include a comprehensive overview of the development of the energy sector in Russia, which is distinguished by the high concentration of state-owned enterprises, the absence of clear market mechanisms, as well as the domination of the fossil fuels represented by natural gas and oil. Furthermore, we present the perspectives of developing the renewable energy technologies in Russia. Our results enable us to create an in-depth analysis of the perspectives of modernization of the Russian energy sector and to draw the key connotations for its further development. Moreover, the outcomes of this paper can provide useful policy implications and guidelines for modernizing energy efficiency and energy systems for Russian stakeholders and policy makers, supporting their efforts to reduce the dependency on carbon fuels and to embark on the path towards the sustainable economic growth and development.

Keywords: energy efficiency; decarbonization; energy consumption; modernization; Russian Federation (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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