European experience in legal stimulating energy production from renewable sources

The article is devoted to the study of mechanisms for stimulating the production of energy from renewable sources at the state and institutional levels. The author’s attention is focused on the practical aspects of implementing a set of measures to increase the investment attractiveness of the development of alternative energy, and the legislative acts of the European Union regulating the studied relations are analyzed, problematic issues in the application of certain incentive measures were identified, as well as conclusions were drawn on ways to increase the efficiency of implementing the policy for the development of energy production from renewable sources. The results of the study found that the regulatory and legal regulation of the promotion of the use of renewable energy sources in the European Union is mostly carried out by Directives of the European Parliament and the Council of the European Union, which, in particular, establish targets for achieving the level of energy production from renewable sources and the means of achieving such indicators at the national and interstate levels. In the article, the author pays attention directly to revealing the essence of the mechanisms for stimulating the production of energy from renewable sources, establishing a cause-and-effect relationship between the use of a certain tool and the economic effect of its use. It was concluded that there is no single effective way to stimulate energy production from alternative sources, and therefore it was concluded that for the implementation of practical tasks, the optimal solution would be to find the right combination of economic instruments, which requires a comprehensive assessment of the state of renewable energy. The research revealed that the renewable energy market is subject to greater uncertainty than traditional energy and requires more attention at the state and institutional levels to achieve targets. It is summarized that the solution to systemic problems in the renewable energy market can be ensured by applying various forms of state and interstate support and forming stable market regulation rules, creating an attractive investment environment by state authorities, and minimizing regulatory and political risks.