ENERGY EFFICIENCY AS AN ECONOMIC POTENTIAL DEVELOPMENT OF THE COUNTRY

Abstract

Background. The energy sector in the structure of the domestic economy remains one of the most vulnerable sectors of the domestic economy. Therefore, solving the problem of reducing energy intensity and energy efficiency of the domestic economy will solve the problem of economic growth of the domestic economy in a global recession due to the effects of the coronavirus pandemic and restrictive measures, which significantly reduced national production. Analysis of recent research and publications. Despite a wide range of research on energy conservation and energy efficiency, most of them are limited to general recom­mendations for sustainable development of the national economy. The aim of this article is to develop the theoretical foundations of energy efficiency as a factor in increasing the financial potential and intensification of economic development of the domestic economy in terms of the need to overcome the effects of the global economic recession. The aim of the paper is to develop theoretical foundations of energy efficiency as a factor of increasing the financial potential and intensification of economic development of the domestic economy while there is the need to overcome the effects of the global economic recession. Materials and methods. The information base of the study were scientific public­cations of foreign and domestic scientists in the field of research on the development of the electricity market, areas of energy efficiency. The research was conducted using such general scientific methods as: generalization and comparison; deductive and inductive analysis; method of statistical analysis to identify and summarize trends in the electricity market, the choice of areas of energy efficiency and the development of energy saving measures. Results. The article presents the results of a study of energy efficiency and energy saving as a basis for economic growth of the domestic economy in terms of overcoming the effects of the global economic crisis. The reasons for the high energy intensity of GDP, which poses a threat to the country’s national security, in particular in the energy sector, have been identified. Conclusion. The necessity of transformation of the electricity market on the prin­ciples of market pricing, energy efficient and energy efficient use and consumption of energy resources, implementation of energy efficiency programs and use of renewable energy sources is proved. Prospects for further research are the development and implementation of modern tools for implementing energy efficient and energy efficient use and consumption of energy resources.