Abstract
This analytical study focuses on the financing of energy efficiency projects in Ukraine. In this article, the authors analyze the state and dynamics of the modern market of energy resources both on a global scale and within Ukraine, and it was discovered that the potential of the energy efficiency market is extremely large and interesting for different groups of bank investors. In the course of the study, it was revealed that private households and industrial enterprises are the largest energy consumers in Ukraine, which confirms the necessity of implementing a public program for financing energy efficiency projects. The study of Ukraine’s legislative framework has made it possible to clearly define the concept of energy efficiency and to highlight which projects can be considered energy-efficient. It is noted that the state actively develops and implements a policy to increase energy consumption savings both among private individuals and among producing enterprises, which is implemented at the state level by a specially created Energy Efficiency Fund. As a specific tool for analyzing energy efficiency projects, the authors suggest using benchmarking technology, which provides the opportunity to highlight the strengths and weaknesses of a specific energy saving project, as compared to the top project in the industry. As a result, in the course of the conducted analytical studies, the authors proposed a specific tool for the analysis of energy efficiency financing projects in Ukraine, which includes five priority areas for which it is necessary to build a methodology for assessing the borrower’s creditworthiness, which seeks to implement a project in the field of energy saving.
Highlights
The development of the economic potential of each country depends on the state and specificity of the use of energy carriers
In a study made by Ganda and Ngwakwe (2014) “Role of energy efficiency on sustainable development”, it is stated that global concern on continued exploitation of non-renewable resources, use of inefficient technology in the production process, employment of weak structures and policies in energy consumption has been raised if an ideally sustainable future is imperative
Energy efficiency refers to different policies, technologies and strategies that are aimed at solving issues related to energy use whether at residential, commercial, industrial and national capacities so as to minimize emission of greenhouse gases which cause global warming together with reducing financial costs
Summary
The development of the economic potential of each country depends on the state and specificity of the use of energy carriers. Energy efficiency refers to different policies, technologies and strategies that are aimed at solving issues related to energy use whether at residential, commercial, industrial and national capacities so as to minimize emission of greenhouse gases which cause global warming together with reducing financial costs. (2016), at the current consumption level, all the world’s energy carriers explored until 2012 will Among the authors who study the issues of bankend after 2178 After this time the only fossil en- ing lending to energy efficiency in Ukraine, attenergy source will remain only peat. 2015, the total supply of primary energy to the Projects” (2013) reveals the major problems in the country amounted to 90 million tons of oil equiv- development of bank lending for enterprise energy alent, where 60% is of own production and 30% of efficiency projects in Ukraine, in particular: unimports. The share of energy supply from renewable sources banking system; lack of incentives and financial according to the State Statistics Service for 2015 is instruments; insufficient information on avail-
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