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Specific Features of Renewable Energy Development in the World and Russia

Author

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  • Victoria I. Bushukina

    (HSE University, Moscow 101000, Russian Federation)

Abstract

The purpose of the article is to study the theoretical and practical aspects of investment activities in the field of renewable energy in the world and in Russia. To achieve this goal, during the development of theoretical material, a systematic analysis of existing approaches to the assessment of financing mechanisms for renewable energy projects was carried out. Statistical and econometric research tools include correlation analysis and multivariate regression analysis. The article examines the development of renewable energy, its benefits, and investments in the industry. The financial risks and barriers associated with financing renewable energy projects are considered. The development of the industry over the past 10 years is analyzed, taking into account the impact of the COVID-19 pandemic on the electricity industry in general and on renewable energy in a number of countries. It is established that the world is shifting to the use of renewable energy sources, and in Russia they are not being given due attention. It is revealed that the existing thermal generation units in Russia are of great age and are to be decommissioned in the near future. The current state of renewable energy in Russia, measures to support it and the rate of its development are investigated. The technical potential of wind and solar power plants in the Russian Federation is considered within the aim of diversifying electricity production. The factors that negatively affect the development of the renewable energy industry are identified.

Suggested Citation

  • Victoria I. Bushukina, 2021. "Specific Features of Renewable Energy Development in the World and Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 93-107, October.
    • Handle: RePEc:fru:finjrn:210507:p:93-107
    DOI: 10.31107/2075-1990-2021-5-93-107
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    References listed on IDEAS

    as
    1. Ermolenko, Boris V. & Ermolenko, Georgy V. & Fetisova, Yulia A. & Proskuryakova, Liliana N., 2017. "Wind and solar PV technical potentials: Measurement methodology and assessments for Russia," Energy, Elsevier, vol. 137(C), pages 1001-1012.
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    Cited by:

    1. Bing Xia & Suocheng Dong & Zehong Li & Minyan Zhao & Dongqi Sun & Wenbiao Zhang & Yu Li, 2022. "Eco-Efficiency and Its Drivers in Tourism Sectors with Respect to Carbon Emissions from the Supply Chain: An Integrated EEIO and DEA Approach," IJERPH, MDPI, vol. 19(11), pages 1-26, June.
    2. Jiawei Liu & Yong Jiang & Beibei Zhang & Xingjian Zhu & Tianyan Sha, 2022. "Paths to Promote the Sustainability of Kindergarten Teachers’ Caring: Teachers’ Perspectives," Sustainability, MDPI, vol. 14(14), pages 1-18, July.
    3. Alexey Mikhaylov, 2022. "Sustainable Development and Renewable Energy: A New View to a Global Problem," Energies, MDPI, vol. 15(4), pages 1-4, February.

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    More about this item

    Keywords

    renewable energy sources; investments; financing; subsidies; renewable energy; electricity;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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