Financial Condition of the Development of the Market of Renewable Energy Sources

Abstract

In the context of the current global economic crisis, the increasing attention of the world community is given to increased structural transformation of fuel and energy complexes of countries. The main content of these processes is to increase the economic efficiency of energy use and reduce the dependence on their imports, which is extremely relevant for Ukraine. Thus, it is evident that there is a need for in-depth scientific consideration of the above-mentioned processes in order to localize existing problems, as well as to develop recommendations for their solution. The article generalizes the tendencies of development of the field of alternative energy in Ukraine and the world, conducted an analysis of the financial state of renewable energy sources, developed recommendations for the improvement and development of this industry. In the course of the study, there were positive changes in the field of alternative energy were discovered, but to date there are still a range of problems that require a state settlement: regulating the alternative energy market needs to be revised by creating new incentive mechanisms for companies active in the alternative energy market and developing effective guidelines; elimination of bureaucratic procedures for obtaining state benefits; activation of bank financing programs for investment in renewable energy projects. Large-scale development of energy from renewable sources will allow to create a new ecologically safe branch of energy, which will help to increase the level of diversification of energy resources and strengthen the energy and ecological safety of Ukraine.