Strategic Aspects of Economic and Energy Policy of Ukraine in the Context of Sustainable Development

• Main Authors: Klymchuk Oleksandr V., Kozlovskyi Serhii V., Lavrov Ruslan V.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2021-01-01
• Series: Bìznes Inform
• Subjects: energy industry; market economy; the state-based regulation; energy saving; renewable energy carriers; energy independence; sustainable development
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2021-1_0-pages-65_76.pdf
• ISSN: 2222-4459; 2311-116X

The article is aimed at developing strategic directions and introducing regulatory measures for the formation of Ukraine’s energy policy on the principles of energy saving and the development of renewable energy industry. On the basis of scientific works, the main organizational-economic vectors of energy industry sector development are systematized, which are associated with the formation of a favorable socio-political climate regarding the priority of using renewable energy sources in the fuel and energy complex; development of effective methods of both the State-based and the market-based regulation by the world community; coordination of the strategy of sustainable development of the world economy. It is determined that the energy saving policy should be based on a flexible combination of the State-based regulation and the market environment for the formation of the most acceptable stimulation mechanisms in the specific economic and political situations, which allows for the greatest economic benefit. It has been found out that the implementation of energy saving processes is impossible without the mass use of renewable energy carriers, which are a universal resource for processing to the right types of energy, are marked by energy independence related to obtaining economic benefits and contribute to the creation of an ecological friendly environment. In the perspective, the energy saving processes, the transition of the national economy to wide implementation in the production of high-tech technologies and the use of renewable energy sources should become the determining factors of Ukraine’s energy strategy.