This paper considers the issue of investment management of digital innovations in modern business. The main purpose of the research is the development of approaches to the investment management of the innovative digitalisation processes of the enterprises and justification of the economic efficiency of investment projects on innovative information technologies use in the context of their relationship with existing information solutions for enterprise management. The relevance of the research is the necessity to change the methods of doing and managing the modern business, taking into account the achievements of the Third and Fourth Industrial Revolutions, which form innovative business philosophy based on informatisation and digitalisation of manufacturing and delivery processes. The implementation of innovative digital technology in business processes requires significant costs and it raises the issue on their minimization. Systematization of literary sources and approaches for the investment management of industrial digitalisation indicates the absence of complex solutions for this problem. In this regard, based on a comparative analysis, the authors have revealed the features of business development in the conditions of the Fourth Industrial Revolution and justified the need for modern information systems integration for enterprise management on the platform of business processes digitalisation. In order to create the road map of business digital innovations, it is suggested that the Theory of Constraints should be used to determine which of the operating information systems of the enterprise (Business intelligence – BI; Enterprise Resource Planning – ERP; Manufacturing Execution System – MES; Industrial Internet of Things – IIoT) is to begin the digital transformation with. The stages of the project development for the digital transformation of an enterprise are designed based on the structural approach. The economic justification for the selection of alternative digitalisation projects is based on an assessment of the labour costs for implementing two variants of digital innovation of a business entity: a complex automation project with up-front modelling and an integration automation project with the gradual implementation of a new information system. The assessment results have shown the economic benefits of implementing the integration project as it provides 1.58 times fewer labour costs and can be realized by use of universal package solutions such as Business Automaton Software (BAS). The analysis of the results of the implemented business digitalisation projects in Ukraine and the world as well as the potential of planned ones has allowed generalising the effects of their implementation and confirmed the need for further development of the mechanisms for the investment management of business digital innovations. Keywords automation, business, digitalisation, efficiency, greening, ERP, information technology, innovation, investment management, project.
The article investigates the current state of management of "green" energy development in the private sector of Ukraine. The mechanisms of economic stimulation, which are used in the countries of the European Union and in Ukraine for the development of the renewable energy sector, are analyzed. On the basis of comparison of domestic and foreign tools revealed the limitation of the economic and financial leverages, which are used in public level in Ukraine to motivate households to implement renewable energy projects as well as the lack of well-established partnership between stakeholders of the real, financial and public sectors. The main stimulus for renewable energy innovative development of the private sector is the feed-in tariff, as well as the simplified procedure for connecting "green" power plants to the general electric grid. Instead, for legal entities additional allowances for the feed-in tariff, tax and other privileges are provided. Taking into consideration the low incomes of Ukrainian households, the authors substantiated the necessity of expanding the range of applicable economic stimulus tools in terms of increasing public financial and credit support for projects on the construction of private renewable energy facilities. In support of this thesis, in the article were made an analysis of the economic feasibility of attracting credit resources to projects on the construction of renewable energy objects in the household sector. Calculations of the net current value and discounted payback periods of projects involving borrowed green loan by Ukrainian and American banks showed that targeted loans provided by Ukrainian banks in their terms do not allow the borrower to return funds at the expense of household income from feed-in tariff. Payback periods of loans far exceed the terms of their provision. The only acceptable option is lending within the framework of the Ukrgazbank Eco-Energy program for 5 years in the amount of 50% of the initial investment, which implies the application of a preferential credit rate of 0,001%. Considering the Clean Energy program of the American Savings Bank, within a 10-year lending period, acceptable alternatives are the attraction of credit resources up to 85% of the volume of required investment, that is, if at least 15% of the own contribution. Thus, clients of the American bank have more favourable conditions for the implementation of renewable energy projects. In order to increase the investment of the population in green energy facilities, the authors substantiated the directions of strengthening public financial and credit support of green energy projects in the private sector of Ukraine.
While implementing state support mechanisms for renewable energy deployment, each country faces the problem of assessing and forecasting their consequences and must timely adjust their set to ensure sustainable energy development. The article estimates the price for sustainable development of the renewable energy sector on the example of Ukraine based on evaluating the effectiveness of the key mechanism of state support for the industry advancement - the feed-in tariff. The comparison of feed-in tariff rates with the LCOE indicators for the electricity generated from solar and wind power plants has shown that the current feed-in tariffs for two of the most popular renewable energy technologies are inflated several times and do not meet global trends in reducing the cost price of electricity generated by these technologies. The consequence of applying economically unreasonable tariffs is the annual over-expenditures of the state budget of Ukraine, which recently count hundreds of millions of euros. In the context of the country’s growing green energy generation, the conditions for further use of the feed-in tariff and the transition to other state support mechanisms are substantiated.
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