Abstract
Based on the use of panel data, the work establishes the relationship between the development of renewable energy sources and (1) the price of fossil energy, (2) the supply of oil and gas consumption through its own production, (3) the factor of the country's technological development and (4) the influence of non-competitive political institutions. The period of high prices for fossil energy (1999-2014) became the catalyst for changes in the structure of the energy balance, especially in Europe, with an increase in the production of renewable energy. However, the fall in prices in 2014 - to the present has led to stagnation in the production of renewable energy with a rapid increase in the use of fossil fuels. In the context of this work, the significance of the factors under study on the consumption of renewable energy sources is proved.
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