STUDY OF THE EFFICIENCY AND PERSPECTIVES OF THE DEVELOPMENT OF WIND ENERGY IN THE WORLD

Keywords: alternative energy supply, renewable energy, wind energy, wind energy development factors, economic efficiency of alternative energy

Abstract

The article is devoted to topical issues of efficiency and prospects for the development of wind energy. In the modern world, the issue of energy supply is crucial, taking into account the exhaustion of traditional sources, such as oil, gas, coal. The transition to alternative energy supply is vital for the vast majority of countries in the world. The article examines the global experience of wind energy development. The main advantage of wind energy over traditional sources of energy is the ecological component. There is zero emission of polluting substances in the process of generating electricity from wind power plants. The purpose of the article is research and analysis of factors that affect the economic efficiency and development of wind energy, based on the experience of countries that hold leadership positions in this field. The such general scientific methods as analysis and synthesis, the comparison method, as well as the correlation-regression method, modeling of panel data in the Rstudio program were used in the research process. The world experience of the transition to renewable energy is analyzed. It was determined that as of the end of 2022, wind power is the cheapest type of renewable energy. The TOP 7 countries - leaders in the development of wind energy in the world include China and India (Asia); Germany, Spain and Great Britain (Europe); USA (North America) and Brazil (South and Central America). It has been investigated that the factors that have a significant impact on the development of renewable energy in the specified countries are the level of economic development of the country, the demand for electricity, as well as the cost of electricity generation from wind turbines. Demand for electricity has the greatest impact on the development of renewable energy. When the demand for electricity increases by 1 TWh, the generation of electricity from wind power plants increases by 0.073 TWh. The practical significance of the research is the definition of the main factors that determine the development and economic efficiency of wind energy. These factors include the level of economic development of the country, the demand for electricity and the reduced cost of electricity generation from wind power plants.

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Published
2023-09-26
How to Cite
Baidala, V., & Nahornyi, V. (2023). STUDY OF THE EFFICIENCY AND PERSPECTIVES OF THE DEVELOPMENT OF WIND ENERGY IN THE WORLD. Economy and Society, (55). https://doi.org/10.32782/2524-0072/2023-55-83
Section
ECONOMICS