The impact of industry 4.0 on modelling energy scenarios of the developing economies

Abstract

At the current stage, developed economies are able to implement measures to improve energy efficiency. At the same time, the developing economies mostly focus on rapid development, which implies a rapid increase in energy demand. The introduction of innovative technologies should meet the energy needs of economies while simultaneously improving energy efficiency. In particular, this applies to increasing renewable energy consumption. The development of this sector can be accelerated through the introduction of Industry 4.0. The aim of the study is to determine the impact of Industry 4.0 on modelling energy scenarios of developing economies. The research involved methods of analysis and synthesis, economic and statistical analysis, graphical methods, and the comparison. The study revealed a high impact of Industry 4.0 on the Ukrainian economy, in particular energy sector. Among other things, an improved energy efficiency is the result of such impact. It was determined that renewable energy consumption in Ukraine increased significantly by 11.5 times during the studied period. The differences in the energy development of Ukraine and China are outlined: China has chosen energy independence. It was concluded that the development and implementation of the latest technologies play a significant role in energy scenarios. The timing of achieving the goals are the main difference in energy scenarios between developed countries and developing countries. The prospect of further research should be the determining means of measuring the impact of uncertainty on the energy modelling.