WAYS TO FINANCE THE DEVELOPMENT OF RENEWABLE ENERGY IN UKRAINE

Abstract

The article argues the relevance of the issues of national economic development in the direction of implementing the tasks of environmental, in particular, energy security of Ukraine in modern realities. The author establishes the urgent need to actively search for ways to finance renewable energy, efficiently attract capital and invest it. On this basis, the author identifies a system of factors that have a negative impact on the financing of this energy sector. The author emphasises the crucial role of the State in organising financing conditions, building infrastructure and ensuring the sustainability of the legal framework for investing in renewable energy. Particular attention is paid to financial instruments for the development of renewable energy and the peculiarities of their development in Ukraine. The author emphasises the important role of stock markets in attracting investment resources, which is determined by the high probability of innovative development and implementation of innovative projects in the industry, increasing the results of socio-economic and climate development, protection of capital from inflation and ensuring growth, high degree of liquidity of assets, as well as low investment costs of their implementation. A simplified mechanism for organising trading operations through the stock market is presented. Its main players are identified: investors and intermediaries who invest financial resources in renewable energy through international financial market trading platforms and financial instruments (shares, contracts for differences and exchange-traded funds). The article assesses the strengths and weaknesses of financial investment instruments in the field of renewable energy, expressed in terms of opportunities for quick profits, the right to manage renewable energy companies, risk levels and costs of concluded contracts. The author's own vision of improving the environment for the development of renewable energy financing in Ukraine is proposed, represented by segmented regulatory and legal support, necessary infrastructure and financing conditions, standards of financial instruments, information transparency, tax preferences, etc.