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 growth of renewable energy facilities worldwide creates new challenges for sustainable regional development. Unregulated investment flows in the green energy sector cause disparities in the deployment of various renewable energy technologies, worsen the ability to balance national energy systems, etc. This article is the first comprehensive study that offers a methodology for multifactor modeling of investment flows in regional green energy deployment considering the priorities of national, regional, and local authorities within the sustainable development concept. The proposed methodological approaches help (1) determine the types of renewable energy technologies for priority development in the region, (2) select specific green energy projects to receive budgetary support on territories, and (3) form the optimal mechanism for budget financing distribution on regional development of renewable energy technologies. The modeling factors include natural conditions and resource base of a territory; its economically feasible renewable energy potential; the territory’s energy needs; installed capacity and electricity generation of new green energy facilities; power plants’ life cycle duration, the investment amount, etc. The model approbation on the example of household solar and wind power plants in the Sumy region, Ukraine, has shown the need to significantly increase financial support for renewable energy projects, primarily due to the region’s energy deficit. Calculations revealed that the interest-free loan share for both technologies should be 2.843 and 2.844 times higher than the basic share of lending (20%). For the 30-kW solar power plant project, the indicator should be 64.67% instead of the basic one of 56.86% for home solar energy facilities. Thus, the methodological approaches presented in the article are new tools that allow territorial authorities to purposefully shape and manage investment flows in the renewable energy sector to ensure sustainable energy development of regions worldwide.
This paper elaborates on the theoretical and methodological fundamentals of a tradable green certificates system to foster renewable energy development in Ukraine. It proposes a management mechanism premised on the classical market model of tradable green certificates aiming at increasing the share of electricity from renewable energy sources in the country’s energy mix. Organizational stages of the mechanism formation at the national level and a methodological approach to assess green electricity generation cost are developed. The modeling has shown that the annual increase in the cap for green electricity consumption by 1% will raise the electricity tariff by 3%, which is not a significant financial burden for consumers. The proposed changes in the tradable green certificates system can be an effective management tool to achieve the required amount of electricity from renewable energy sources in the country’s total electricity consumption and to foster the development of the Ukrainian renewable energy sector.
The world prefers to increase energy efficiency and use energy from renewable and alternative sources. Ukraine has chosen the same path. To form recommendations for improving state support schemes for the sustainable development of renewable energy, the authors conducted a thorough analysis of the state of renewable energy in Ukraine and its legislative support. The advantage of the study is the visual presentation of data. Thus, the authors presented and analyzed which energy sources Ukraine uses for its own needs, the essence of the Ukrainian energy balance and its state in 2019. The authors found that the development of renewable energy is one of the "Sustainable Development Goals of Ukraine", which are based on the world. The authors noted the objectives and indicators of the goal, assessed the value of the indicators and found that, even though the goal is one of the most important goals because it is in third place in the number of amendments to existing regulations, there is a lag in plans and more lag on some additional tasks. The authors systematized the legal basis for the functioning of renewable energy and revealed this process' subject-object relations. The analysis showed that the improvement of state support schemes for the sustainable development of renewable energy should be based on European norms and standards but consider national specifics. The authors proposed and described the principles of improving state support for the sustainable development of renewable energy, which should be based on ensuring the balance of interests of the three main stakeholders of the renewable energy market: the state, energy consumers and investors.
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