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The Formation of the Contemporary Renewable Energy Sector and its Role in the Industry Development

Author

Listed:
  • Elvir Akhmetshin

    (Faculty of Economics and Management, Kazan Federal University, Russian Federation, Kazan, Russia,)

  • Sergey Zhiltsov

    (Peoples Friendship University of Russia (RUDN University), Engineering Academy, Russian Federation, Moscow, Russia)

  • Anna Dmitrieva

    (Federal State Autonomous Educational Institution of Higher Education South Ural State University (National Research University), Russian Federation, Institute of Law, Chelyabinsk, Russia,)

  • Andrei Plotnikov

    (Humanitarian Faculty, Perm National Research Polytechnic University, Russian Federation, Perm, Russia,)

  • Angelina Kolomeytseva

    (Faculty of International Economic Relations, Moscow State Institute of International Relations (MGIMO University), Moscow, Russia)

Abstract

Currently, renewable energy is one of the core issues brought up monthly on the global market. The created green energy policy and support of the most advanced countries are aimed at its development. State-of-the-art technology, necessary scope of knowledge, and optimal conditions for using renewable sources of energy altogether are the factors for focusing on the development of the industry. The core purpose of the research was to reveal facts of the current formation of the renewable energy sector. As a result of the research, we found out that the renewable energy sector is currently achieving its peak of popularity. The issue is of worldwide relevance, and the leading countries focus their efforts on supporting the industry, while municipalities extensively implement such facilities in large cities. Renewable energy resources are also used in such areas as the transportation, cooling, heating, and energy industry, and many others.

Suggested Citation

  • Elvir Akhmetshin & Sergey Zhiltsov & Anna Dmitrieva & Andrei Plotnikov & Angelina Kolomeytseva, 2019. "The Formation of the Contemporary Renewable Energy Sector and its Role in the Industry Development," International Journal of Energy Economics and Policy, Econjournals, vol. 9(6), pages 373-378.
    • Handle: RePEc:eco:journ2:2019-06-44
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    References listed on IDEAS

    as
    1. Oksana V. Savchina & Olga V. Savchina & Anastasia V. Asinovich & Maksim A. Kosyakov & Alexander L. Bobkov, 2017. "Energy Sector of the Russian Federation in the Context of Macroeconomic Instability," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 28-33.
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    Cited by:

    1. Gennadiy Stroykov & Alexey Y. Cherepovitsyn & Elizaveta A. Iamshchikova, 2020. "Powering Multiple Gas Condensate Wells in Russia’s Arctic: Power Supply Systems Based on Renewable Energy Sources," Resources, MDPI, vol. 9(11), pages 1-15, November.
    2. Zhanar M. Orynkanova & Diana I. Stepanova, 2020. "Evaluation of the Economic Efficiency of Heat Recovery from Exhaust Gas of Diesel Power Plants in Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 399-404.

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    More about this item

    Keywords

    R enewable energy; Biofuel; Municipal energy sector; Power generation.;
    All these keywords.

    JEL classification:

    • K3 - Law and Economics - - Other Substantive Areas of Law
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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