Conclusions

● energy efficient use of biogas is associated with establishment of two types of biogas systems: installation of biogas purification facilities to allow biogas to enter the pipelines for natural gas and energy efficient use of biogas in CHP plants, while producing heat and electricity;

● use of wind energy in the Baltic Sea and on land is associated with the problem of efficient consumption of a high volume of produced electricity due to non-uniformity of wind speed, therefore the simultaneous construction of a wind farm and large accumulator plants (such as compressor plants) will provide the possibility of creating an energy efficient system;

● use of solar power for heat and electricity production is associated with the purchase of relatively expensive technologies, however the fact that solar energy costs will always be zero is the leading aspect for the future prospects of solar stations;

● expansion of smart power grids throughout Latvia will provide an opportunity to regularly inform the end users of the efficiency of energy consumption and options to reduce energy consumption [6].

„Latvia Green Energy Strategy 2050” has been developed by scientists of the Faculty of Energy and Electrical Engineering of the Riga Technical University, who have been actively calling upon the society during last five years to participate in the development processes of the energy sector and upon the government to coordinate the national energy policy.

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Dzintra Atstaja

BA School of Business and Finance K.Valdemara 161, Riga LV–1013 Latvia

www.ba.lv/en

dzintra.atstaja@ba.lv

Dzintra Atstaja is Associated Professor at the Department of Entrepreneurship and IT in BA School of Business and Finance (Latvia), Doctor of Economy, Management Science (Entrepreneurship Manag- ement). She specializes in economics and sustainable development; more than twenty years experience in business consulting. She is a founder and board member of the Latvian Association of Economics and member of the European Society for the History of Economic Thought and SMART civil society organisation.