Russia Invests
Russia is one of the most important energy exporters in the world. At the same time, the Russian economy uses more energy than average. Many generating plants are outdated and municipal heat supplies are inefficient. 50 % of the energy that is generated is lost during transportation alone. In view of falling gas and oil prices, saving energy is in the best interest of the Russian government since export duties on oil and gas account for nearly 70 % of the national budget. Saving energy increases the export potential, which in turn is good for the Russian treasury.
This is why the Russian government has obligated Russian industries to achieve energy savings of 40 % by 2020. A new law also proposes increasing the proportion of renewable energy to 4 % by 2020 (to date, less than 1 % of all energy comes from renewable energy sources). The objective is to increase the export potential of primary energy sources. After all, global market prices for oil and gas will once again rise significantly over the medium term.
