Energy Consumption in Regions on the Way to Sustainable Innovative Development under Crisis

Abstract

The article analyses the volume of electricity consumption in the Russian Federation and in several Russian regions. The study was held taking into consideration the statistical data from 1998 to 2019. The authors developed an economic and mathematical model showing the influence of various factors on the electricity consumption. Among the main factors, they identified the gross regional product, the gross regional product per capita, electricity prices, and the exchange rate. They also draw conclusions about the significance of the factors included into the model that influence on the amount of energy consumed. An overview of approaches to the analysis of factors affecting the volume of energy consumption is made. The influence on the process of sustainable innovative development is determined, and a balanced approach to improving the energy efficiency of the domestic economy is proposed.