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New Technology Adoption for Russian Regional Energy Generation: Moscow Case Study

  • Alexandra Bratanova

    ()

    (Department of Economics, University of Queensland)

  • Jacqueline Robinson

    ()

    (Department of Economics, University of Queensland)

  • Liam Wagner

    ()

    (Department of Economics, University of Queensland)

Russia is frequently referred to as a country with sufficient energy efficiency and renewable energy potential [2, 3]. Although an improvement has been shown (energy-GDP ratios were improved by 35% between 2000-2008 [4]), the contribution of technological progress is estimated to account for only 1% of the energy-GDP ratio reduction, the existing share of renewable energy sources (RES) based electricity generation is estimated at 0.1%. Analysis shows that regional and federal levels of governance in Russia are missing efficient mechanisms for stimulation of energy saving, technological development [5] and RES deployment. This research aims to develop an analytical tool for energy sector economic analysis for technological development planning to support policy decision making. The paper adapts the levelized cost of energy (LCOE) methodology of Wagner and Foster [6], which has been upgraded to facilitate combined energy generation processes, to examine the cost structures associated with energy system and applies it to a Russian regional case study. The model run for two fuel price scenarios allowed us to conclude that the regional energy supply system is dependent on natural gas price. We conclude that new and RES based technologies become cost-effective for electricity generation as domestic natural gas prices reach parity with export prices. However, strong political and financial support is needed to boost technological development and RES application.

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Paper provided by School of Economics, University of Queensland, Australia in its series Energy Economics and Management Group Working Papers with number 4-2013.

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Date of creation: Apr 2013
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Handle: RePEc:qld:uqeemg:4-2013
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  1. Alexandra Bratanova & Jacqueline Robinson & Liam Wagner, 2012. "Energy cost modelling of new technology adoption for Russian regional power and heat generation," Energy Economics and Management Group Working Papers 9-2012, School of Economics, University of Queensland, Australia.
  2. Liam Wagner & John Foster, 2011. "Is There an Optimal Entry Time for Carbon Capture and Storage? A Case Study for Australia's National Electricity Market," Energy Economics and Management Group Working Papers 07, School of Economics, University of Queensland, Australia.
  3. Salomons, Roelof & Grootveld, Henk, 2002. "The equity risk premium: emerging versus developed markets," Research Report 02E45, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  4. Paul Edward Simshauser & Phillip Wild, 2009. "The Western Australian Power Dilemma," Energy Economics and Management Group Working Papers 2-2009, School of Economics, University of Queensland, Australia.
  5. Kalashnikov, Victor & Gulidov, Ruslan & Ognev, Alexander, 2011. "Energy sector of the Russian Far East: Current status and scenarios for the future," Energy Policy, Elsevier, vol. 39(11), pages 6760-6780.
  6. Gore, Olga & Viljainen, Satu & Makkonen, Mari & Kuleshov, Dmitry, 2012. "Russian electricity market reform: Deregulation or re-regulation?," Energy Policy, Elsevier, vol. 41(C), pages 676-685.
  7. Branker, K. & Pathak, M.J.M. & Pearce, J.M., 2011. "A review of solar photovoltaic levelized cost of electricity," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(9), pages 4470-4482.
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