29 July 2021 |Virtual
Belarus is well endowed with renewable energy resource potential, although the sector is still in its nascent stage of development, with a limited role in the country’s currently overwhelmingly fossil-fuelled energy mix. With energy imports accounting for about 85% of all energy supplied, Belarus is one of the most import-dependent countries in the world and exposed to price volatility risk. Reducing imports dependency, improving energy efficiency and moving towards a less carbon-intensive development model of the economy are some of the key challenges the country will have to address in the future.
Increased deployment of renewable energy technology in Belarus would contribute to the country’s GDP and economic growth, enhance energy security by reducing import dependence, and contribute towards local value creation, including employment opportunities and industrial development. Greening the energy sector, which is the single largest contributor to greenhouse gas emissions, would also pave the way towards a sustainable and environmentally sound development model.
The Renewables Readiness Assessment (RRA) aims to further support the country on this path towards the sustainable development of the energy sector through increasing deployment of reliable and cost-effective renewable energy solutions. The report highlights the challenges and gives 11 recommendations for actions in key areas of renewable energy policies.
The RRA calls for more ambitious and coherent renewable targets, combined with long term vision for development of the sector. Implementation of well-designed and suitable local conditions for auctions is highlighted as the necessary way forward for achievement of well-planned and cost-efficient renewable energy deployment and for attracting new investments, while reducing the perceived market risk. Further improvement of financial and de-risking instruments is also recommended, as well as actions for harnessing renewable energy potential in heating.
The detailed agenda and concept note are available here.