Russia plans to stop supporting renewable energy after 2035

Support for renewable energy in Russia should end after 2035 when renewable energy projects reach price parity with traditional sources, according to a revised energy strategy obtained by TASS, which has been submitted to the government, Report informs.

"The main task regarding the renewable energy sources is to end support mechanisms after 2035 and increase the efficiency of renewable energy production to achieve price parity with traditional production," the document states.

According to the strategy, this requires not only improving the mechanisms and standards for renewable energy development but also creating incentives for equipment export and services for renewable energy facilities, improving voluntary demand systems for renewable energy sources, and developing storage systems.

The agency notes that the share of renewable energy sources in Russia's fuel and energy balance, which is currently 0.6%, could increase to 1.5-2.1% by 2036 (with a target of 1.8%) depending on the scenario, and by 2050 could reach 1.4% in the stress scenario and 6.6% in the inertial scenario (with a target of 3.1%).