Legal and economic aspects of Ukrainian enterprises activity at the European renewable energy market

• Main Authors: Sergiy Bilotskiy, Nicole Danylova, Olena Grinenko, Oleksandra Karmaza, Daria Koucherets
• Format: Article
• Language: English
• Published: LLC "CPC "Business Perspectives" 2017-06-01
• Series: Investment Management & Financial Innovations
• Subjects: comparative analyses; economic expansion; energy consumption; energy efficiency; renewable energy sources
• Online Access: https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8778/imfi_2017_02_Bilotskiy.pdf

The article deals with a current trend of the global energy market, which is characterized by rising tension in relations between the performers of the energy market regulation mechanisms, and it leads to the emergence of alternative energy sources. The article is called to identify the causes of renewable energy markets nascence, to make comparative description of Ukrainian and European Renewable Energy Markets attractiveness, and to characterize the state policy change in a renewable energy market. Different interpretation of nature and classification of the field of renewable energy in foreign and Ukrainian approaches shows the problem of legal criteria of renewable energy markets regulation. It is proved the existence of double barrier penetration of the European market for renewable energy for Ukrainian companies, which includes compliance with the accepted EU Directives and compliance with the Rules of each member individually. The presence of clearly defined standards and certificates of quality for the European market allows producers to show the competitiveness of Ukrainian products in the international market and stimulate Ukrainian manufacturers. The presence of clearly formulated laws, stable and balanced political and legal environment of the EU allows Ukrainian producers of renewable energy to develop such a strategy that considers the time factor, as the primary parameter of competitiveness in international business. The market of solid biofuels in EU is under formation, its development timeframe and uncertainty of environmental risks becoming is especially important for Ukrainian producers.