Effectiveness of the renewable energy support program implementation (by the example of solar energy)

Objective: to conduct a comprehensive analysis of the dynamics and prospects of the renewable energy support program implementation and to assess its effectiveness.Methods: comparison, synthesis, system approach, generalization, statistical and economic analysis.Results: the authors conducted a comprehensive analysis of system effects from the implementation of renewable energy support programs. The mechanisms of state support of renewable energy generators (further – RES) were studied. These mechanisms are aimed at reducing emissions and costs, creating new jobs, etc., which provides Russia with a unique opportunity to create a full-fledged RES industry. The authors assessed the economic efficiency of renewable energy development in the Wholesale Electricity and Capacity Market (WECM), taking solar energy for analysis. The benefits were analyzed, which are acquired as a result of renewable energy development, including by implementation of the state program of RES projects support and the RES development program for 2013-2024. Economic and non-economic effects arising in the process of RES industry development were analyzed. These are: substitution of fossil fuel consumed in energy production by conventional generation facilities, due to the replacement of conventional generation facilities by RES facilities; reduction of prices in the wholesale electricity market; reduction of greenhouse gas emissions; reduction of costs of measures to reduce the negative impact on the environment and health protection; reduction of compulsory levied payments; creation of new jobs. In conclusion, the prospects of RES development in the state nearest to Russia – the Republic of Belarus – were analyzed, which is important for energy cooperation.Scientific novelty: a comprehensive analysis of system effects from the implementation of the program to support the RES industry in the Russian Federation was carried out. The efficiency of the support program implementation was proved by the example of solar energy. The prospects of the program implementation in the Russian economy were shown.Practical significance: the obtained results and the revealed regularities can be used to make forecasts of renewable energy development taking into account economic and non-economic consequences. They can be used by the authorities to assess the support policy effectiveness of RES generating facilities, as well as to select the most favorable support mechanisms.