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Efficiency of Renewable Energy Plants in Russia

Author

Listed:
  • Jaehyung An

    (College of Business, Hankuk University of Foreign Studies, Seoul, Korea,)

  • Fe Amor Parel Gudmundsson

    (University of Iceland, Reykjavik, Iceland,)

  • Natalia Sokolinskaya

    (Financial University Under the Government of the Russian Federation, Moscow, Russia,)

  • Sergey Prosekov

    (Financial University Under the Government of the Russian Federation, Moscow, Russia,)

  • Artur Meynkhard

    (Financial University Under the Government of the Russian Federation, Moscow, Russia,)

  • Au?unn Arn rsson

    (University of Iceland, Reykjavik, Iceland,)

  • Lernui Simonyan

    (University of Nottingham, Ningbo, China.)

Abstract

The article offers an evaluation of the efficiency of power plants that use renewable energy. With the way tariffs for thermal energy are nowadays, the minimum cost of solar water heating (SWH) plants with a payback period of 7 years should not exceed $50 per square meter. Capital expenses for SWH plants with a drain-down system are 1,4-1,6 times lower than traditional SWHs with circulation systems, and their payback period does not exceed 5-5,7 years. Based on the present electricity tariffs in Russia, it is estimated that the minimal acceptable investments in wind turbines with a payback period of 7 years should not exceed $800/kW. Biogas that is obtained from specialized plants of medium and high-power costs $15,000-60,000 per cubic meter. But the price of biogas produced in low energy power plants is about $80,000-270,000, which is cheaper than natural gas. So, the use of biogas is economically justified at the moment.

Suggested Citation

  • Jaehyung An & Fe Amor Parel Gudmundsson & Natalia Sokolinskaya & Sergey Prosekov & Artur Meynkhard & Au?unn Arn rsson & Lernui Simonyan, 2020. "Efficiency of Renewable Energy Plants in Russia," International Journal of Energy Economics and Policy, Econjournals, vol. 10(2), pages 81-88.
    • Handle: RePEc:eco:journ2:2020-02-11
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    Citations

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    Cited by:

    1. Ivan Trifonov & Dmitry Trukhan & Yury Koshlich & Valeriy Prasolov & Beata Ślusarczyk, 2021. "Influence of the Share of Renewable Energy Sources on the Level of Energy Security in EECCA Countries," Energies, MDPI, vol. 14(4), pages 1-15, February.
    2. Zhong, Qing & Nelson, Jake R. & Tong, Daoqin & Grubesic, Tony H., 2022. "A spatial optimization approach to increase the accuracy of rooftop solar energy assessments," Applied Energy, Elsevier, vol. 316(C).
    3. Hameed, Zeenat & Hashemi, Seyedmostafa & Ipsen, Hans Henrik & Træholt, Chresten, 2021. "A business-oriented approach for battery energy storage placement in power systems," Applied Energy, Elsevier, vol. 298(C).
    4. Mangipinto, Andrea & Lombardi, Francesco & Sanvito, Francesco Davide & Pavičević, Matija & Quoilin, Sylvain & Colombo, Emanuela, 2022. "Impact of mass-scale deployment of electric vehicles and benefits of smart charging across all European countries," Applied Energy, Elsevier, vol. 312(C).
    5. Maciej Chowaniak & Zofia Gródek-Szostak & Karolina Kotulewicz-Wisińska & Małgorzata Luc & Marcin Suder & Anna Szeląg-Sikora, 2021. "The RES in the Countries of the Commonwealth of Independent States: Potential and Production from 2015 to 2019," Energies, MDPI, vol. 14(7), pages 1-24, March.
    6. Assadi, Mohammad Reza & Ataebi, Melikasadat & Ataebi, Elmira sadat & Hasani, Aliakbar, 2022. "Prioritization of renewable energy resources based on sustainable management approach using simultaneous evaluation of criteria and alternatives: A case study on Iran's electricity industry," Renewable Energy, Elsevier, vol. 181(C), pages 820-832.
    7. Benavides (Dir. proy.), Juan & Cadena, Ximena & Delgado-Rojas, Martha Elena & García, Helena & García, María Claudia & Medellín, Juan Camilo, 2021. "Asistencia técnica para la implementación del Proyecto de Acción de los NDC en Colombia (UNEP): Entregable 2.2. Informe que contiene los procesos que permitirían la destinación y gestión efectiva de f," Informes de Investigación 21036, Fedesarrollo.
    8. Madurai Elavarasan, Rajvikram & Pugazhendhi, Rishi & Jamal, Taskin & Dyduch, Joanna & Arif, M.T. & Manoj Kumar, Nallapaneni & Shafiullah, GM & Chopra, Shauhrat S. & Nadarajah, Mithulananthan, 2021. "Envisioning the UN Sustainable Development Goals (SDGs) through the lens of energy sustainability (SDG 7) in the post-COVID-19 world," Applied Energy, Elsevier, vol. 292(C).
    9. Livia CEBOTARI, 2021. "Eu-Russian Economic Relations: From Cooperation To Confrontation," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 8, pages 41-55, July.
    10. Chongwilaikasaem, Sukampon & Ayaragarnchanakul, Eva, 2023. "Electricity saving behavior in student dorms: What message framing works?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 107(C).
    11. Salimi, Mohammad & Faramarzi, Davoud & Hosseinian, Seyed Hossein & Gharehpetian, Gevork B., 2020. "Replacement of natural gas with electricity to improve seismic service resilience: An application to domestic energy utilities in Iran," Energy, Elsevier, vol. 200(C).
    12. Ramadhani, Adhitya & Khan, Faisal & Colbourne, Bruce & Ahmed, Salim & Taleb-Berrouane, Mohammed, 2022. "Resilience assessment of offshore structures subjected to ice load considering complex dependencies," Reliability Engineering and System Safety, Elsevier, vol. 222(C).

    More about this item

    Keywords

    solar water heating plants; wind turbines; biogas plants; thermal energy; electrical energy; cost of plants;
    All these keywords.

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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