FEATURES OF ECONOMIC SUPPORT OF ALTERNATIVE ENERGY DEVELOPMENT IN UKRAINE

Abstract

Summary. Today, the search for new energy sources is more than acute. Reducing Ukraine’s energy dependence
on traditional fuel resources is possible only through the development and use of its own alternative energy, which
uses local resources as fuel (bioenergy), or does not need a fuel component (solar, wind and small hydropower).
The European Union is one of the leaders in the implementation of alternative energy and renewable energy
sources and has initiated the creation of many organizations that finance projects related to the use of alternative
energy. European energy legislation declares a 20% level of renewable energy in the overall energy balance of the European Union until 2022. By signing the Paris Agreement, Ukraine has made certain commitments,
namely: according to the Energy Strategy of Ukraine until 2035, «Security, Energy Efficiency, Competitiveness»
is considered to be the goal of achieving 25% of renewable energy sources in gross final energy consumption.
This goal can be achieved only in the case of international cooperation with the EU in the field of alternative
energy. The purpose of the study is to study and specify the features of economic support for the development of
alternative energy in Ukraine. The article uses structural, logical and comparative analysis as research methods.
The article examines important theoretical and practical aspects of the development of alternative energy in
Ukraine. In particular, the main elements of economic support for the development of alternative energy are
identified, the financial resources that are necessary for the implementation of innovation policy of the state are
characterized. As a result of the study, it is proposed to adhere to the principles on which the national policy
should be based on stimulating the development of alternative energy: elimination of non-economic barriers, such
as administrative barriers, lack of access to energy systems, imperfect structure of the electricity market, lack
of awareness and training, as well as solving problems with the introduction of renewable energy technologies
in society; the need to create an easily predictable and transparent support system to attract investment;
implementation of transitional incentives, which are planned to reduce the level of support over time, which will
stimulate innovation in technology, control them and help to achieve market competitiveness as soon as possible;
development and implementation of appropriate incentive programs that guarantee a certain level of support for
different technologies, depending on the degree of their development, which helps to realize significant potential
over time; assessment of the impact of large-scale implementation of renewable energy technologies on the
energy system as a whole, especially in liberal electricity markets, which would take into account the overall
economic efficiency and reliability of the system.