FORMATION OF LEGAL FRAMEWORK FOR THE FUNCTIONING AND DEVELOPMENT OF GREEN ENERGY

The paper presents the results of an analytical review of the current state and trends in the development of green energy in three leading world economies: the USA, the EU, China, and Ukraine. It has been shown that the growth rates of renewable energy sources in the energy sectors in global energy systems have sharply increased. Their global installed capacity in 2023 reached 3,870 GW. Solar and wind energy continued to lead, with their combined capacity growth amounting to 97.6 %. It has been established that the key factors contributing to progress in the implementation of solar and wind generation are regulatory policies, financial support, technological advancements, and the reduction in equipment costs. The conducted analytical review showed that developed countries offer various forms of support for renewable energy, including preferential tariffs, tax credits, and legislation. Such policies create a stable and attractive market for renewable energy producers, which in turn stimulates the development and reduction of technology costs. After the period of preferential support ends, further development of renewable sources occurs on a competitive basis and through the stimulation of regional mechanisms. Thanks to improvements in generation and energy storage technologies and the reduction of investment costs, renewable energy in many countries has achieved grid parity or has even become cheaper than traditional fossil fuel sources. This, in turn, motivates the gradual cancellation of subsidies for companies using these technologies and their smooth transition from "green" tariffs to market conditions. One of the important steps taken by the EU is the transition to auctions and contracts for difference, which allows producers to compete for the right to sell their electricity at market prices with additional financial support. Ukraine has created a regulatory framework for the functioning of renewable energy sources, which, together with modern generation and energy storage technologies, can ensure smooth and flexible mechanisms for the transition from "feed-in" tariffs to market conditions. Keywords: green energy, renewable energy sources, solar energy, wind energy, legislation, USA, EU, China.