Since European society is experiencing an aggravation of the issue of energy security, the production of renewable energy is becoming increasingly important. The advantages of biofuel—in particular, biogas—and the positive effects of the development of its production are summarized within the framework of the problem statement. It is emphasized that the production of biogas from various renewable raw materials causes economic, ecological, and social effects. The development of biogas production can be especially active in combination with the development of the agricultural sphere. In response to today’s demand, the authors in this research present a model of the correlation between the output of biogas from different types of organic mass and specify the factors affecting it. In particular, a multiple econometric model of the relationship between the output of biogas from different types of organic mass and the content of dry organic matter and the share of possible methane content in organic matter was built; the density of the connection between the factors and the resulting feature was evaluated; the tightness of the general relationship (influence) of independent variables on the dependent variable was checked using the coefficient of determination; and the reliability of the correlation characteristics was estimated using Fisher’s and Student’s tests. As a result, with the use of convincing evidence—in particular, taking into account the potential of the Ukrainian agricultural sector—the feasibility of further development of biogas production in combination with the development of agricultural production is substantiated.