This paper proposes methodological approaches to assessing the impact of renewable energy and energy efficiency development on emerging economies’ energy security. It is suggested to supplement the current methodology for assessing energy security with the decoupling index of the renewable energy financial burden on the state budget, the energy efficiency decoupling index, the households’ energy poverty indicator, the index of capacity development for balancing electricity generation volumes, and the energy fluctuations indicator. These indices provide a comprehensive assessment of energy security under the latest challenges. Thus, the COVID-19 pandemic in the Ukrainian energy sector led to the “green and coal paradox”, when the government decided to keep green electricity generation but limit nuclear generation. It required increased flexible capacities (thermal generation) and led to a rise in electricity prices and environmental pollution. Forecasting energy fluctuations with Butterworth filters allows minimizing the risks of maximum peak loads on the grid and timely prevention of emergencies. The energy fluctuations within the 20% range guarantee energy security and optimal energy companies’ operation. It is proposed to smooth out energy consumption fluctuations through green energy development, smart grids formation, energy efficiency improvements, and energy capacities balancing to ensure energy and economic sustainability.
The Ukrainian renewable energy sector has demonstrated a significant increase in its renewable power capacity, especially for solar and wind power plants. Decommissioning the end-of-life equipment in Ukraine has not yet taken place, but it is only a matter of time. With this in mind, this paper assesses the quantities and the market values of the materials that could potentially be recovered from used solar and wind power plants, and it estimates the impact of their decommissioning on employment in Ukraine. It has been estimated that approximately 8.9 GW of solar power plants, and 3.6 GW of wind power plants, will be decommissioned from 2044 to 2059, and that the cost of the raw materials recovered could reach EUR 421.4 million and EUR 124.6 million in 2021 prices, respectively, compared to the decommissioning costs of EUR 240.1 million and EUR 49.1 million, respectively. Decommissioning renewable power plants will require the creation of new jobs, including 11.6 thousand in the solar industry, and 2.8 thousand in the wind sector. It is essential to amend the legislation in Ukraine, particularly Directive 2012/19/EU, to introduce the principle of the extended producer responsibility to ensure the efficient recycling of renewable power plant end-of-life equipment in Ukraine in the future.
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