The renewable energy law was passed over 10 years ago and has become obsolete. It was in a way, an easy means to profit off of Mongolia. Accordingly, the Mongolian Government has recently revised its policy. In the past few years, there was no renewal of licenses for wind and solar power plants.

Currently, there are eight solar and wind farms in Mongolia. However, as the number of new plants and clean energy increases, the people who charge the price are increasing as well. Mongolians paid MNT 110 billion for the use of green energy price differentials to new sources. Nevertheless, this money is mainly paid to foreign investors. “Excluding two plants, foreign investors currently hold more than 50 percent of six renewable energy sources,” said Tleikhan Almalik, head of the Energy Regulatory Commission.

Furthermore, over 1,000 companies operating in renewable energy have been established. Also, the license granted to this sector reached 1528.8 MWh, exceeding the total energy consumption of Mongolia.

In Mongolia, it is important to step up the renewable energy sector under a pure business principle. As of 2018, 18 percent of Mongolia's energy or 240.4 MWh consisted of renewable energy. By the end of this year, the country can achieve its purpose to get 20 percent of its total energy reserves from renewable sources. In this view, the country is likely to be dependent on wind and solar power in the coming years and it is essential to implement a cautious policy