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The Role of Renewable Energy in the Energy Policy of the European Union

ФИО студента: Martiros Martynov

Руководитель: Nadezhda Zinkovich

Кампус/факультет: Faculty of World Economy and International Affairs

Программа: World Economy (Bachelor)

Год защиты: 2018

The lack of domestic energy resources and the necessity to export resources expensively, as well as fluctuations in raw material prices and energy consumption growth forced the EU to revise its energy policy and aim at self-reliance, which is possible only by developing renewable energy sources (RES) such as wind power, solar and biomass energy. Renewable energy is inexhaustible resources, and it does not pollute the environment. Moreover, the process of their development and usage has started recently and it is uneven among different EU countries. Therefore, exploring this area is particularly topical in today's world. Thus, the aim of the study is to determine the current role of renewable energy in the EU's common energy policy and prospects for its development. The peculiarity of this work is to identify the effects of increasing renewables share in the EU energy mix on Russia as a major energy supplier to the region. The main methods used in the work are analysis, comparison, generalization, description and forecasting. The study found that the EU renewable energy market is rapidly evolving, and the major condition for its development is the real support from the state and the population. In addition, a growing renewables share in the EU energy balance may lead to a significant gap in Russia's export earnings.

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