Energy cost modelling of new technology adoption for Russian regional power and heat generation
Russia is frequently referred to as a country with sufficient energy efficiency potential. Although an improvement has been shown (energy-GDP ratios were improved by 35% between 2000-2008 ), 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 and technological development . 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 , 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. Strong political and financial support is needed to boost technological development and RES application.
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