Abstract

The aim of the article is to study the implementation of innovative projects for the use of renewable energy sources in the “economy of the future”. According to the concept of “green" energy transition, the following areas of "economy of the future" are identified: energy efficient industry, buildings, heat energy; electric transport; circulating economy, waste reduction; support for research and innovation on electricity storage, production and storage of green hydrogen; digitalization and technological changes; renewable energy sources – wind, solar, bioenergy. It is proved that renewable energy sources can meet 80% growth in electricity demand over the next 10 years. By 2025, renewable energy sources will displace coal as the main means of electricity generation. If states adopt more aggressive policies, the role of renewable energy will be even more active in the next five years. It is proved that it is important to create an appropriate market environment to attract large-scale private investment in innovative renewable energy projects. After all, without sufficient investment, networks will be a weak link in the transformation of the electricity sector, which will affect the reliability and security of electricity supply. The transition to renewable energy sources in the general energy supply, including transport and heating, is most active in large cities. To transition the city to the “green” energy, the issues of attracting investment, changing consumer behavior, integration of electricity with heat supply and transport, the state of existing energy infrastructure (electricity, gas, heating networks), distribution of energy consumption between sectors (buildings, mobility) and players in supply (large energy companies, enterprises, cooperatives).
 The research of the basic tendencies of realization of projects of use of renewable energy sources in Ukraine is carried out. To ensure competitive conditions for the production of electricity from alternative energy sources, the introduction of incentive mechanisms and the installation of capacities for the accumulation of electricity at power plants is envisaged. Financial support for renewable energy at the state level is provided in two areas: tax benefits and credit support. Among the tax benefits and mechanisms in world practice are the following: investment tax credit; production tax credit; mechanism of partial or full compensation of interest for the use of loans by industrial companies and individual farms for the installation of energy storage systems; mechanism for exemption from taxation of imported equipment for energy storage systems, etc. However, Ukraine has not yet taken sufficient legislative and diplomatic steps to do so. Important are the problems of balancing the network, defaults and debts to market participants, the restructuring of the “green” tariff.

Highlights

  • The transition to renewable energy is a key strategy declares the intention to reduce harmful element of the European energy strategy

  • The world has already established state mechanisms to support large-scale reformatting of the energy sector through the global use of renewable energy sources

  • The aim of the article is to study the implementation of innovative projects for the use of renewable energy sources in the “economy of the future”

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Summary

Introduction

The transition to renewable energy is a key strategy declares the intention to reduce harmful element of the European energy strategy. Reducing energy dependence will increase systemic security and geopolitical risk resilience for both EU countries and Ukraine (Bondarenko & Makoveieva, 2020). To achieve these goals, countries are joining various agreements on the development of renewable energy, reducing carbon emissions and improving energy efficiency. It is planned to produce almost half of the worlds electricity by 2050 by technology renewable energy sources. This was made possible by a sharp drop in the cost of wind and solar technologies, as well as energy storage technology

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