Stimulation of investment processes in renewable energy sector

Nataliia Savina,Yevheniia Sribna,Svitlana Dombrovska,Volodymyr Yemelyanov,Dmytro Mishchenko,A Generowicz,V Koval,B Burkinskyi

doi:10.1051/e3sconf/202125501048

Abstract

The purpose of the article is to assess the pace of capital contribution and investment in solar energy in order to increase the energy security of national economies. The study analyzes the development of the global solar industry for years 2009-2019 in the context of investment support. The main stages of development of world solar energy are marked and the priority of countries and regions is determined. Factors of attractiveness of solar energy for private investment are noted, namely the investment climate is formed at the expense of legislative maintenance of this sphere, and in the economic plan at the expense of introduction of the «green» tariff. Two main investment processes in the development of solar energy are noted. First, these are large private companies that implement large-scale projects from solar stations. Secondly, this small private investment to provide electric for households that identified a small city urbanization and climatic conditions. It was found that the solar energy market depends more on capital intensity than on resource intensity. The result of economic calculation is indicated, which allowed to determine the term of reduction of the cost price of 1 kW of photovoltaic power station electricity to the level of NPP production cost for ten years.

Highlights

Interest in the development of renewable energy can be traced in all countries of the world from highly developed to backward in economic development
The structure of the global increase in solar photovoltaic capacity has the following trend: the share of China is 26%, the United States accounts for 12%, India - 9%. 27% of the world's solar energy production capacity is formed by two groups of countries the first group: the total capacity of Japan (6%), Vietnam (4%), Spain (4%), Germany (3%), Australia (3%), Ukraine and South Korea (3%); the second group of countries - all other countries in the world [3]
Summing up the results of the study, we note that solar energy is an attractive area of international investment, the share of which in renewable energy reaches almost 50%

Summary

Introduction

Interest in the development of renewable energy can be traced in all countries of the world from highly developed to backward in economic development. The macroeconomic importance of renewable energy in the formation of the share of GDP is constantly growing. With the development of this energy, the demand for relevant technologies and equipment is growing . Among the types of renewable energy, a significant share is occupied by solar energy, which is actively developing in two directions: in business and as an additional source of relatively cheap electricity for households and individual enterprises. The growth of primary electricity consumption and the tendency to reduce its production from hydrocarbon sources in combination with increasing anthropogenic pressure on the environment is forcing countries to reconsider their energy security policies and focus more on solar and wind power generation. The dynamic development of solar energy and the introduction of innovative technologies indicate the importance of solar power plants. The purpose of the article is to assess the pace of capital contribution and investment in solar energy in order to increase the energy security of national economies

Objectives

Methods

Results

Conclusion