Comparative analysis of renewable energy development in the Republic of Buryatia (Russia) and Mongolia

Abstract

The constantly growing demand for electricity and relatively small energy capacities are forcing the Republic of Buryatia (to a greater extent) and Mongolia, which are limited in some types of economic activity, to look for new sources of energy. One of these restrictions is the ban on the construction of hydroelectric power plants on rivers of the Lake Baikal basin. Therefore, Buryatia and Mongolia have taken the path of building environmentally friendly power plants and have succeeded in many ways. Despite the high costs of setting up clean power plants, infrastructure investments in alternative energy are long-term and expected to be profitable. Investors (including foreign ones) placing their money in a seemingly low-profit project, having long-term expectations. Competent investors do not run after “quick money”, realising that the return period of the constructed power plants will be long, as at the moment of development they have a relatively low efficiency. Despite the criticism of some researchers [1], they invest in green energy, modern infrastructure and a future without emissions (CO2, NO2, SO2 and other gases) from burning coal, fuel oil and firewood. Other experts see in the development of alternative energy a great potential [2-5], refuting arguments of critics about high cost of electricity [6].