Carbon Market Development and Energy Efficiency in the Republic of Serbia

Energy supply represents one of the main issues of sustainable development on a global scale, and its solution is in energy efficiency increase, plants modernization and use of renewable energy resources. The paper provides the comparison between the cost of electricity from current commerical technologies and the technologies expected to be commercially available in the next decade. The aim of the paper is to point out that investment in low emission technology is profitable investment, and that reduced CO2 emissions in a country lead to their reduction on the global level. Special emphasis in the paper is on CO2 emissions prices on the carbon market which can encourage project realization focused on larger exploitation of renewable energy sources (RES) in the Republic of Serbia.