DEVELOPMENT OF RENEWABLE ENERGY SOURCES IN UKRAINE: OPPORTUNITIES, BARRIERS AND PROSPECTS

Abstract

The article is devoted to the study of the development of renewable energy sources in Ukraine, with an emphasis on the opportunities, barriers and prospects of this process. In the context of modern challenges of energy security, in particular due to the country's dependence on imported energy resources and the need to ensure stable energy supply in the context of global changes, renewable energy is gaining particular importance. In Ukraine, there is significant potential for the development of such energy sources as solar, wind, hydropower and biomass. Due to favorable natural conditions, in particular a high level of insolation and wind resources, Ukraine has the opportunity to create powerful solar and wind power plants. However, to realize these opportunities, it is necessary to improve the legislative and regulatory framework, as well as stimulate the development of investment attractiveness in the field of renewable energy. According to the data, the share of renewable energy sources in the energy system of Ukraine for 2023 was 22%, which is a significant achievement, although this indicator still lags behind the average level in Europe. However, problems arise on the path of development of renewable energy, in particular, due to the lack of effective market mechanisms for pricing and technical difficulties. The article pays special attention to legislative initiatives that promote the development of renewable energy sources, in particular, the «green tariff» and changes made to the laws of Ukraine in recent years. In particular, the Law of Ukraine «On Amendments to Certain Laws of Ukraine on the Restoration and «Green» Transformation of the Energy System of Ukraine» is an important step in the market transformation of the sector, meeting European standards and creating conditions for the sustainable development of renewable energy. These measures are expected to contribute to the country’s energy independence and ensure compliance with international sustainable development goals, in particular, achieving carbon neutrality by 2060. The article emphasizes the importance of forming state plans for the development of renewable energy sources, which will allow increasing the share of energy from renewable sources to 27% by 2030 and ensuring the long-term development of this sector in Ukraine.