The WB and IFC estimates show that there is great potential for energy conservation in housing.
Photo: Dmitry Lebedev
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Russia Could Save a Bundle by Conserving
By raising the effectiveness of its energy use, Russia could reduce consumption of primary energy by 45 percent, that is, by 240 billion cu. m. of natural gas, 340 billion kW/h of electricity, 89 million tons of coal and 43 million tons of crude oil. That is one of the conclusions reached in a joint report of the World Bank and International Finance Corp. Russian president Dmitry Medvedev has said that the reduction of energy use in Russia should start with the state sector. The WB and IFC estimates show that there is greater potential for savings in other sectors, especially housing, however. The organizations made estimates not only by sector, but by financial justification for investment in energy savings.
Estimates of financial attractiveness (that is, income) from energy-savings investing show 6-percent income in the state sector, 50-percent in housing and 12-percent in private business.
The difference in rates is due to varying technical possibilities and economic justification. Thus, although 53.4 million tons of oil could be saved by modernizing heating systems in residential buildings, the low interest of residents in the system means that only investment funding would be justified, leading to a 46-percent savings. In industry, the equation is different. The financial potential is 80 percent of the technical. To realize the potential growth of energy effectiveness, only $320 billion are needed, three times less than what is needed to increase the productivity of electricity. The final consumer would save $80 billion and the total savings $2120-150 billion (including $84-112 billion in income not received from the export of oil and gas). Expenses for energy saving “could be recouped in two to three years.”
www.kommersant.com
All the Article in Russian as of June 23, 2008
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