THE NEED TO SUPPORT BUSINESS ENTITIES TO INCREASE UKRAINE'S ENERGY INDEPENDENCE THROUGH INVESTMENTS IN RENEWABLE ENERGY SOURCES
Abstract
This article examines the need to support business entities to enhance Ukraine's energy independence through investments in renewable energy sources (RES). The first section addresses energy independence as a national priority, discussing its importance for national security, the geopolitical context, and the challenges posed by the ongoing war to the country’s energy infrastructure. The role of RES in achieving energy independence is emphasized, along with strategies for strengthening energy resilience during the war and in the post-war period. The second section focuses on preferential loans and grant programs as mechanisms for supporting the development of Ukraine's RES sector. It outlines the benefits of preferential loans for financing energy projects and stimulating investments in renewable energy technologies. Additionally, the article discusses grant programs as vital tools for fostering innovation and addressing financial, technological, and infrastructural challenges. The interaction between preferential loans and grants in supporting RES growth is also highlighted. The third section explores the role of state guarantees and other support mechanisms in ensuring energy security. State guarantees are examined as essential tools for encouraging private investment in RES, while other forms of government support, such as tax incentives and subsidies, are discussed as vital for stabilizing the energy market. These support instruments are particularly crucial in wartime to maintain the energy infrastructure and stimulate investment. The final section addresses the challenges and prospects of developing renewable energy in Ukraine. The article emphasizes the growing need for RES to strengthen energy security and reduce reliance on imported energy. It also discusses the financial, technological, and regulatory challenges in the sector, while highlighting the potential for growth due to Ukraine’s natural resources and demand for sustainable energy. The prospects for RES development post-war are optimistic, with a focus on government and international support. This article provides a comprehensive overview of Ukraine's renewable energy sector and the mechanisms required to support its energy independence through investments in green energy. The synergy between financial support measures like preferential loans, grants, and state guarantees is essential for overcoming challenges and ensuring a resilient, sustainable energy future.
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