Efficiency of Renewable Energy Plants in Russia

Authors

  • Jaehyung An College of Business, Hankuk University of Foreign Studies, Seoul, Korea
  • Fe Amor Parel Gudmundsson University of Iceland, Reykjavik, Iceland
  • Natalia Sokolinskaya Financial University under the Government of the Russian Federation, Moscow, Russia
  • Sergey Prosekov Financial University under the Government of the Russian Federation, Moscow, Russia
  • Artur Meynkhard Financial University under the Government of the Russian Federation, Moscow, Russia
  • Auðunn Arnórsson University of Iceland, Reykjavik, Iceland
  • Lernui Simonyan University of Nottingham, Ningbo, China

Abstract

The article offers an evaluation of the efficiency of power plants that use renewable energy. With the way tariffs for thermal energy are nowadays, the minimum cost of solar water heating (SWH) plants with a payback period of 7 years should not exceed $50 per square meter. Capital expenses for SWH plants with a drain-down system are 1,4-1,6 times lower than traditional SWHs with circulation systems, and their payback period does not exceed 5-5,7 years. Based on the present electricity tariffs in Russia, it is estimated that the minimal acceptable investments in wind turbines with a payback period of 7 years should not exceed $800/kW. Biogas that is obtained from specialized plants of medium and high-power costs $15,000-60,000 per cubic meter. But the price of biogas produced in low energy power plants is about $80,000-270,000, which is cheaper than natural gas. So, the use of biogas is economically justified at the moment.

Keywords: solar water heating plants, wind turbines, biogas plants, thermal energy, electrical energy, cost of plants

JEL Classifications: C30, D12, Q41, Q48

DOI: https://doi.org/10.32479/ijeep.8786

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Author Biographies

Fe Amor Parel Gudmundsson, University of Iceland, Reykjavik, Iceland

Social Sustainability Researcher

Natalia Sokolinskaya, Financial University under the Government of the Russian Federation, Moscow, Russia

Ph.D, professor

Artur Meynkhard, Financial University under the Government of the Russian Federation, Moscow, Russia

laborant

Auðunn Arnórsson, University of Iceland, Reykjavik, Iceland

Lecturer

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Published

2020-01-21

How to Cite

An, J., Gudmundsson, F. A. P., Sokolinskaya, N., Prosekov, S., Meynkhard, A., Arnórsson, A., & Simonyan, L. (2020). Efficiency of Renewable Energy Plants in Russia. International Journal of Energy Economics and Policy, 10(2), 81–88. Retrieved from https://econjournals.com/index.php/ijeep/article/view/8786

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