The Theoretical Foundations and Economic Aspects of Renewable Energy Development in the Context of EU Energy Security

The aim of the article is to explore the theoretical foundations and economic aspects of renewable energy sources (RES) development, as well as their comprehensive impact on the energy security of the European Union (EU) amid globalization and the accelerated energy transition. The article discusses the essence of key concepts of energy security, the impact of globalization on energy markets, and provides a comparative analysis of traditional energy sources and RES in the EU. The study confirms the increasing economic competitiveness of RES (particularly solar and wind energy) compared to traditional generation sources based on the LCOE indicator. The dual impact of globalization is identified, which, on one hand, creates opportunities for access to resources and technologies, while on the other hand, intensifies the EU’s vulnerability to external shocks and price volatility. The transformation of the nature of the EU’s energy dependencies is substantiated: the reduction of dependence on fossil fuel imports is accompanied by the emergence of new dependencies on the import of critical raw materials and technologies for renewable energy sources (RES). The systemic challenges of large-scale integration of RES have been analyzed in detail, which are related to significant investment needs for network modernization, ensuring flexibility, and developing energy storage systems. The comprehensive impact of RES on the energy security of the EU has been assessed, which includes both positive aspects (strengthening energy sovereignty) and new risks. Prospects for further research in this area include in-depth modeling of the system costs of integrating renewable energy sources (RES) for different regions of the EU, quantitative assessment of the risks of new technological and raw material dependencies, and the effectiveness of strategies to overcome them, analysis of the impact of «just transition» policy instruments, as well as the development of integrated models for a comprehensive analysis of the interaction between energy, economy, and security in the EU. Further study of these aspects is critically important for ensuring a sustainable and secure energy future for the EU.