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Comparative economic analysis of technological priorities for low-carbon transformation of electric power industry in Russia and the EU

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  • Veselov, Fedor
  • Pankrushina, Tatiana
  • Khorshev, Andrey
Abstract
This paper explores the differences in technological priorities for decarbonization of the Russian and the European power sectors up to 2040 and investigates the main drivers of such differences. We used updated cost and performance data to conduct a comparative analysis of technologies based on levelized cost of electricity. Calculation of carbon avoided costs allowed us to found the pool of cost-efficient low-carbon technologies for the Russian power industry as well as the level of carbon prices needed to support their development. Also, we have explained the reasons which cause differences in decarbonization priorities in Russia and Europe. We have also investigated the impact of system requirements (and associated costs) in terms of capacity availability and its operating modes on the competitiveness of renewable energy sources and conventional power plants. Consideration of these requirements and costs improves the quality of power system planning and policy-making processes under the strict limits on greenhouse gas emissions. Based on performed analysis we suggest economically reasonable decarbonization strategy of the Russian power industry as well as the necessary level of carbon prices/taxes for various low- and non-carbon technologies to support their development.

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  • Veselov, Fedor & Pankrushina, Tatiana & Khorshev, Andrey, 2021. "Comparative economic analysis of technological priorities for low-carbon transformation of electric power industry in Russia and the EU," Energy Policy, Elsevier, vol. 156(C).
    • Handle: RePEc:eee:enepol:v:156:y:2021:i:c:s0301421521002792
    DOI: 10.1016/j.enpol.2021.112409
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    References listed on IDEAS

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    2. Yuguo Jiang & Enock Mintah Ampaw & Hongyan Wu & Lan Zhao, 2023. "The Effects of System Pressure on Low-Carbon Innovation in Firms: A Case Study from China," Sustainability, MDPI, vol. 15(14), pages 1-20, July.
    3. Kolpakov, A. & Yantovskii, A. & Galinger, A., 2022. "Cost of achieving zero CO2 emissions by mid-century: Approach and estimation for the world largest economies," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 139-154.
    4. Jin, Jingliang & Wen, Qinglan & Zhao, Liya & Zhou, Chaoyang & Guo, Xiaojun, 2023. "Measuring environmental performance of power dispatch influenced by low-carbon approaches," Renewable Energy, Elsevier, vol. 209(C), pages 325-339.
    5. M. N. Uzyakov & A. Yu. Kolpakov & B. N. Porfiriev & A. A. Galinger & A. A. Yantovskii, 2023. "Materials and Energy Intensity of the Global Carbon Neutrality," Studies on Russian Economic Development, Springer, vol. 34(3), pages 335-341, June.
    6. Ding, Yihong & Tan, Qinliang & Shan, Zijing & Han, Jian & Zhang, Yimei, 2023. "A two-stage dispatching optimization strategy for hybrid renewable energy system with low-carbon and sustainability in ancillary service market," Renewable Energy, Elsevier, vol. 207(C), pages 647-659.
    7. Kilinc-Ata, Nurcan & Proskuryakova, Liliana N., 2023. "Empirical analysis of the Russian power industry's transition to sustainability," Utilities Policy, Elsevier, vol. 82(C).

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