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.
Highlights
Tools such as the maximization of energy efficiency, modernization of power distribution electrical systems as well as the shift towards the carbon-free economy all constitute powerful means for tackling global warming and climate change
It is apparent that the Russian energy sector plays a significant role in the formation of the country’s GDP
Experience with investment and innovation deficit have a high degree of import dependence against the background of an unfavorable political and economic situation for the Russian Federation
Summary
Tools such as the maximization of energy efficiency, modernization of power distribution electrical systems (i.e., decentralization, distributed generation or deployment of renewable energy) as well as the shift towards the carbon-free economy all constitute powerful means for tackling global warming and climate change. Stakeholders and policy makers are intensifying the new energy efficiency measures, including the increase in the energy efficiency of the buildings, creation of the transparency in energy consumption via more accurate measurements utilizing smart meters, as well as application of the novel smarter energy demand management techniques [5,6] Tackling these issues can help them to gain a better understanding of the challenges they face in building successful and efficient energy sector. The recent shift towards sustainable economic growth makes business managers focus on overcoming cost and efficiency barriers This might help to avoid unnecessary waste of energy, reduce the environmental footprint and help the environment by investing in the energy efficiency measures and integrating energy savings into the daily business routine [18,19]. A cleaner and greener approach to energy use can benefit the community [22] and should be introduced even in those countries where fossil fuels are the main priority and a major source of income (which is exactly the case of the Russian Federation)
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