TECHNICAL AND ECONOMIC ASPECTS GREENHOUSE GAS EMISSION REDUCTION THROUGH THE DEVELOPMENT OF RENEWABLE ENERGY SOURCES

Abstract

The aim of this work is to identify ways to reduce greenhouse gas emissions. Greenhouse gases change the climate of the planet, causing the so-called global warming. There is anthropogenic impact on nature, the threat of extinction of biological species and food security. The paper considers the market mechanism of climate policy, with which is possible to change the global energy balance. The global energy sector will be largely environmentally friendly through the widespread use of renewable energy sources. The market mechanism is one of the main instruments of climate policy, with the help of which states and companies can sell or buy quotas for greenhouse gas emissions in the regional, national or international markets. The Law of Ukraine of July 13, 2016 No. 0105 ratified the Paris Agreement on Climate Change. In addition to international obligations, the introduction of a market for quotas for greenhouse gas emissions is also provided for by internal strategic documents of Ukraine. According to the updated Energy Strategy of Ukraine for the period until 2035, it is advisable to optimize the structure of the energy sector of the national economy by increasing the use of energy sources with low carbon dioxide emissions, and increasing the use of renewable energy sources. Electricity production by renewable energy sources is projected to increase with bringing its share in the total primary energy supply in 2035 to 25%, compared to 2015 - 4%. The technically achievable electricity potential of Ukraine’s renewable energy sources is sufficient to cover significant amount of the country's electricity consumption. Ref. 7, tab. 1, fig. 1.