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Title | Energy industry development: key trends and the core determinants |
Authors |
Chygryn, Olena Yuriivna
Shevchenko, K. |
ORCID |
http://orcid.org/0000-0002-4007-3728 |
Keywords |
відновлювальна енергія возобновляемая энергия renewable energy енергетичний сектор энергетический сектор energy sector світовий енергетичний ринок мировой энергетический рынок global energy market сонячна енергія солнечная энергия solar energy енергія вітру энергия ветра wind energy зелені технології зеленые технологии green technologies |
Type | Article |
Date of Issue | 2023 |
URI | https://essuir.sumdu.edu.ua/handle/123456789/91359 |
Publisher | Sumy State University |
License | Creative Commons Attribution 4.0 International License |
Citation | Chygryn, O., Shevchenko, K. (2023). Energy industry development: key trends and the core determinants. SocioEconomic Challenges, 7(1), 115-128. https://doi.org/10.21272/sec.7(1).115-128.2023. |
Abstract |
Energy underpins the development and enables investment, innovation, and new industries that drive
jobs, inclusive growth, and the shared prosperity of entire economies. The COVID-19 pandemic and the war in
Ukraine have led to a sharp rise in energy prices, increasing concerns about energy shortages and energy
security, and slowing progress toward universal access to affordable, reliable, sustainable, and modern energy
by 2030. The purpose of the article is to study key trends and trends in the development of the global energy
sector. Ex-post-economic analysis was used during the retrospective analysis. The conducted analysis made it
possible to single out three main trends in the development of the global energy sector: decarbonization,
digitalization, and decentralization. The results of the evaluation of statistical information on the development of
alternative energy allowed us to draw the following conclusions. The global weighted average current cost of
electricity for solar photovoltaic and onshore wind decreased by 77% and 35%, respectively, between 2010 and
2018. Global electricity production from renewable energy sources also increased by 7% in 2018. led by China,
which accounted for nearly 37% of offshore wind growth and 44% of solar PV growth. However, significant
progress in the use of renewable energy sources is still concentrated in the power industry. The share of renewable energy sources in the transport and heating sectors is still limited, although showing moderate growth. The study of forecast indicators confirmed the steady trend of growth in the demand for renewable energy. Between 2018 and 2030, global demand for renewable energy is projected to grow by 64%. The results of the provided research can be used further in the study of the development of various sectors of the energy industry, in particular, alternative electricity, wind energy, etc. |
Appears in Collections: |
SocioEconomic Challenges (SEC) |
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File | Size | Format | Downloads |
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Chygryn_SEC_1_2023.pdf | 1.19 MB | Adobe PDF | 3352984 |
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