Abstract

The aim of the article.The paper deals with current trends of the global energy market, signs of a crisis which determine the appearance of the market of renewable energy are revealed. Also comparative description of Ukrainian and European Renewable Energy Markets attractiveness is conducted, impact factors of state policy change in Energy Regulation of the European Union, in particular the development of the renewable energy sources, are analysed. The results of the analysis. Under the conditions of world economic globalization and the growing problem of energy crisis, the role of renewable energy is actualizing for finding in the growing demand of energy, which leads to the formation of a new market in the world economic system – renewable energy market. The initial phase of the market is characterized by the absence of intense competitive environment, the uncertainty of the major players in the market and unallotted market shares, what requires that Ukrainian producers of renewable energy can demonstrate the level of competitiveness in the international market. At the same time, for successfully entrance to the EU market it is needed depth study of legal aspects of economical activity of Ukrainian enterprises in the international market. Comparative analysis of the legal framework of Ukraine and the EU in the renewable energies industry led to positive conclusions about the attractiveness of the European market and let to identify the characteristics of the European Union. Conclusions and directions of further researches. Therefore, the construction of an entry strategy on the international market should pay great attention to aspects of international law to predict the political and legal risks of foreign market. The strategy of economic expansion is most effective in the present context of globalization of the world economy and can provide a quick entry to Ukrainian companies to the EU market and take their niche in it. In addition, Ukrainian producers of energy from unconventional sources by using short-term expansion can successfully use post-crisis EU market through cautious of offers on the market. Further study of the problem of alternative energy sources is the most perspective direction of energy policy on the world’s energy market. Further analysis of the market should be given on export prospects, opportunities for social cohesion and employment in emerging markets.

Keywords: global energy crisis, world energy consumption, renewable energy market, alternative energy market, renewable energy sources, alternative energy sources, State Regulation of renewable energy market, economic expansion strategy

JEL Classification: F29, Q42.

Cite as: Bilotskiy, S. & Danylova, N. (2014). Economic expansion of the European renewable energy market in case of European Union law. Marketing and Management of Innovations, 4, 136-145. https://doi.org/10.21272/mmi.2014.4-16

This work is licensed under a Creative Commons Attribution 4.0 International License

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