Evaluation and comparison of investment projects of generation of renewable energy in Lithuania

Abstract

There are no more doubts that traditional energy sources like oil, gas, coal and peat are running out inexorably. Therefore to ensure both - the conservation of non-renewable energy sources and willing to get cheaper energy there is necessary to use and develop renewable energy such as solar energy, wind energy, hydropower, biofuels and geothermal energy. Lithuania is a country highly dependent on energy imports, especially after closing the Visaginas nuclear power station. The most energy raw materials such as oil and gas are imported from Russia. At the same time renewable energy sources (RES) are available to a larger extent. Good potential for wind energy exists along the shores and geothermal sources are located in the western part of the country. But the largest and still widely unused potential lies in biomass. The hydroelectric potential is rather low and already largely utilized. The purpose of this article is to investigate the potential of renewable energy sources and ifs usage in Lithuania and to make the evaluation and comparison of different investment projects of generation of renewable energy.