Budget Efficiency of Investments in Renewable Sources of Energy

Currently, the development of energy production based on renewable sources is gaining more and more momentum. Every year there is an increase in investment in this industry. The Russian Federation is trying not to yield to its colleagues in the race for clean energy. Since 2013, in our country, the volumes of generated capacities based on renewable energy sources have been increasing annually. However, at the moment the cost of clean energy is high enough and without government subsidies, investors would not be so interested in the production of green energy. Based on this, the question arises: how effective are these investments for the state and the investor? The answer to this question is devoted to this study on the assessment of the budget and economic efficiency of investments in renewable energy. To achieve this goal a number of tasks were formulated: • To study the theoretical aspects of calculating the economic and budgetary efficiency of investments in renewable energy • To conduct an analysis of the market of RES of the Russian Federation in order to understand the current investment trends • Consider mechanisms of state support for renewable energy projects. • Evaluate budget and economic efficiency based on a real project. • Formulate conclusions on the feasibility of budgetary investments in renewable energy          The object of this study is an investment project for the construction of the Ushakovo WPP. The subject of the study is budgetary efficiency. The practical significance of the study is due to the novelty of this type of research that focuses on the renewable energy industry in the Russian Federation. The methodology of this work is mainly based on the use of various financial ratios related both to the definition of economic and fiscal efficiency. Among the empirical methods of this study include the analysis of literary sources of various types.