Abstract
Development and use of alternative energy in Ukraine is one of the state priority directions. Production and use of liquid bioenergy fuels from energy crops and biomass cultivation for the production of biofuels of various types’ provision are the main priorities for Ukraine. The purpose of the study is to determine the opportunities of Ukraine liquid biofuel market development scenario binary econometric model design. In the article, based on the method of economic and statistical modeling with the use of statistical software environment «R» econometric models of Ukraine liquid bioenergy fuels market formation and functioning have been designed. The objective of the study is to substantiate the possibility of an econometric model and regression analysis in the study of prospects for the development of the liquid biofuel market application. The possibility of usage the alternative energy in Ukraine has been substantiated, as one of the state priority directions. The conducted study on Ukraine bioethanol market development and functioning until 2023 forecast enabled to establish that volumes of corn export and export price for wheat affect the Ukraine bioethanol production scope. It has been substantiated that in the country it is expedient to form the products consumption culture in the context of low-carbon economic development in the face of global climate challenges and taking into account future trends. A multifactor correlation model that is based on the bioethanol market in Ukraine's development and functioning study has been suggested.
Highlights
The rapid pace of post-industrial development in most countries objectively require society to find effective tools to preserve the ecological balance of the environment, compliance with the sustainability requirements and to inclusive growth transition
Biomass is the largest source of renewable energy carrier in the European Union (EU) contributing to over 60% of renewable energy, with the majority of supply coming from domestic sources (Dafnomilis et al, 2017)
Development and use of alternative energy in Ukraine is one of the priority state directions that is based on the implementation of new technologies and world experience use in the bioenergy fuels market development and functioning
Summary
The rapid pace of post-industrial development in most countries objectively require society to find effective tools to preserve the ecological balance of the environment, compliance with the sustainability requirements and to inclusive growth transition. The price of imported energy is growing from year to year rapidly, because the primary energy production sources is reducing and, over time, may be completely depleted. It is necessary to promote actively the development and production of bioenergy fuels (biodiesel, bioethanol, biogas, solid fuel) in order for Ukraine to be a less dependent on primary energy sources imports country. This will help to reduce the country’s energy dependence and unemployment rate in the country, to improve ecological environment and economy development of and agriculture in general
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