Comparison Analysis of Energy Markets‘ Aspects in the Visegrad Group Countries

Abstract

Purpose:The aim of this paper is to compare (also to EU27) and analyze chosen aspects of Energy sectors, which are currently indispensable for the appropriate functioning of an economy. Based on the literature review, a research gap was identified in the form of a lack of studies related to the current situation of the use of renewable energy sources in the total energy supply of the Visegrad Group countries. Additionally, the comparison of the situation in question for the V4 countries is an extremely important issue because of the possibilities of cooperation in this area. Approach/Methodology/Design: The undertaken research issues and the set goal determined the choice of research methods, such as critical literature review, statistical methods, analysis and synthesis methods. Findings: The most important conclusions from the conducted analyses indicate the necessity to prepare and implement the decarbonization process, especially in Poland. Practical Implications: V4 countries should take joint actions to increase share of renewable energy sources in total energy supply in order to 1) reduce negative emission and air pollution 2) tackle EU standards and goals set for RES share in Energy mix 3) increase in Energy independency and security of V4 members and group as a whole. Originality/Value: The originality and value of the study results from the fact that the current comparison of the V4 countries in terms of the use of renewable energy sources and its structure does not exist in the available literature. It should be noted that this is an important aspect of the energy policy of modern countries.