Renewable energy as a factor in increasing the energy efficiency of the national economy

Abstract

The article explores the critical role of renewable energy in enhancing the energy efficiency of a national economy, particularly during periods of armed conflict. Renewable energy sources, such as solar and wind power, offer a decentralized and resilient solution to ensure energy supply amidst restricted access to traditional energy resources. The study reviews recent scientific research, highlighting how renewable energy contributes to economic growth, reduces reliance on imported energy resources, creates jobs, and increases the resilience of energy systems. The emphasis is placed on the potential of renewable energy in the post-war reconstruction of Ukraine and its role in securing energy independence and security. The analysis includes a comparison of various types of renewable energy based on parameters such as operational costs, environmental impact, and implementation challenges. The findings indicate that renewable energy technologies, such as photovoltaic panels and wind turbines, not only lower the carbon footprint but also reduce energy consumption in production processes. The article underscores the importance of expanding investments in renewable energy to meet global climate goals, particularly in underdeveloped technologies like offshore wind and geothermal energy. Furthermore, the study discusses the need for a more equitable distribution of funding between developed and developing countries to bridge socio-economic gaps and support a global energy transition. It also highlights the significance of local energy production in decreasing transmission losses and improving the overall energy efficiency of the economy. The paper provides recommendations for increasing investments in less mature renewable technologies and integrating these technologies into the national energy grid. The role of "green" bonds as a favorable method for promoting green energy projects and reducing CO2 emissions is also examined. Lastly, the article discusses the importance of legislation that allows renewable energy producers to sell electricity directly to the market, fostering further development in this sector.