Analysis of potential of renewable energy in the Lithuania

Abstract

Lithuania is a country highly dependent on energy imports. The most energy raw materials such as oil and gas are imported from Russia. It is however, the only Baltic state to own a refinery that makes it an exporter of petroleum products. 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 RES and if s usage in Lithuania and to analyze the evaluation features of effectiveness of investment in RES.