USAID Signs Energy Efficiency Agreement With Russia

The Russian Energy Agency (REA) and the U.S. International Development (USAID) have inked a Protocol of Intent for strengthening partnership on clean energy, "smart grid" technology and energy efficiency.

This was done following the commitments made by Presidents Dmitry Medvedev and Barack Obama on June 24, 2010 at the US-Russia Summit for promoting green technology and energy efficiency.

This agreement will help in fostering partnerships with the U.S. as well as Russian regulators, utilities and others for sharing the best practices and information. In an effort to mitigate climate change, potential activities and initiatives will decrease energy loss that occurs in electricity systems and simultaneously decrease the carbon emission levels.

As per the World Bank, the U.S. and Russia are the two biggest emitters in terms of per capita greenhouse gases. This agreement will help in improving energy security, energy efficiency as well as clean energy technology. A World Bank Group report indicates that Russia could save around $80 billion annually if it realizes its full potential in energy efficiency.