Solar energy in Ukraine

by Meifan Honcharuk
Thursday, November 11, 2021
Solar energy in Ukraine

How to avoid an energy crisis? Development of renewable energy in Ukraine

Green energy is a crucial part of the future of our planet. We have to start using green energy as soon as possible to prevent the world energy crisis.
An energy crisis is a phenomenon that occurs when the demand for energy carriers is significantly higher than their supply. In recent decades, the energy crisis has been a significant concern in most developed and developing countries in the world.

Advantages of the green energy
Green energy does not pollute the environment and green energy will reduce the amount of greenhouse gas emissions. The green energy market is defined as renewable resources obtained from natural processes within the earth's ecosystem.
Green energy resources include heat generated by solar panels and wind turbines. Biomass is green energy that is derived from plants and animal byproducts. Green waste can be converted into green energy, while green electricity is obtained through solar or wind power.
Today Ukraine uses a lot of different green energies, but probably the most common green energy today is solar power.
Now the development of solar energy in Ukraine is at the stage that Europe went through 7-10 years ago. But at the same time, we have one of the most attractive investment structures in Europe for the development of the industry. Indeed, favorable conditions have been created here: the availability of resources and land plots, a preferential tariff, government support and a targeted energy strategy, with the goal of achieving 25% of clean energy production by 2035. As a result, interest in renewable energy in Ukraine continues to grow, and the government estimates that by 2020 the total investment in alternative energy will reach $18 billion.
It should be noted that the climate and geographical location of Ukraine are favorable for the development of solar energy and the construction of solar power plants. Even the northern regions of the country have significant potential for developing this industry, which is not inferior to most European regions.

The return on investment in solar energy
On the profitability of investments in solar energy
In Ukraine, there is a "green tariff" — special financial conditions, when the state undertakes to buy electricity produced from renewable energy sources from private households and enterprises at a special tariff.
The return on investment in a solar power plant is 18-20% per annum, higher than the interest on a deposit in foreign currency or income from renting an apartment. Therefore, solar energy is an attractive sphere for investors.

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