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

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  • Wadim Strielkowski

    (Department of Agricultural and Resource Economics, University of California, Berkeley, 303 Giannini Hall, Berkeley, CA 94720, USA
    Department of Trade and Finance, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, Prague 6, 165 00 Prague, Czech Republic)

  • 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)

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.

Suggested Citation

  • Wadim Strielkowski & Anna Sherstobitova & Patrik Rovny & Tatiana Evteeva, 2021. "Increasing Energy Efficiency and Modernization of Energy Systems in Russia: A Review," Energies, MDPI, vol. 14(11), pages 1-19, May.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:11:p:3164-:d:564601
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