Development of renewable energy in Russia: Challenges and opportunities

Abstract

Subject. This article discusses the issues of climate change and environmental aspects of the development of the Russian regions' economy. Objectives. The article aims to assess the importance of green energy in ensuring economic advance and analyze the specific risks for the economy associated with the active use of renewable energy sources. Methods. For the study, we used a comparative analysis. Results. The article finds that solar, wind and small hydroelectric power plants are extremely unevenly distributed across the federal districts of Russia. Renewable energy generation facilities are the most cost-effective at the local level and have a positive impact on the environment. Conclusions. The activities of Russian regions in the introduction of renewable energy sources should be recognized as insufficient for the implementation of the concept of sustainable development.