Complex changes in green energy development

President signed Law of Ukraine №3220-IX

The President of Ukraine, Volodymyr Zelenskyi, signed Law of Ukraine No. 3220-IX on the restoration and green transformation of the energy system of Ukraine.

This legislative act aimed at the development of small generation of alternative sources of energy and the improvement of the minds of support for the development of green energy in Ukraine. Law No. 3320-IX provides for innovations for domestic and non-domestic consumers.

The main initiatives of the Law brought to the Ukrainian energy industry:

• Implementation of certificates of origin of energy from renewable sources and biomethane, which allows tracking of sources and the amount of green energy used. This is an event aimed at ensuring transparency and supporting ecologically clean energy sources.
• Export of energy from renewable sources opens opportunities for Ukrainian producers of green energy to sell their products on foreign markets. This contributes to the development of Ukrainian green energy and the strengthening of the country's position in international relations.
• The "feed-in-premium" model should stimulate the holding of auctions for the distribution of support quotas for commercial renewable energy (RES) projects. This initiative provides a competitive environment for the development of new renewable energy projects and promotes an increase in the share of green energy in the country's energy balance.
• The right for RES producers to independently sell their electricity on the market provides greater flexibility in interaction with energy units. This promotes the diversity of energy suppliers, increases efficiency and stimulates innovation in the field of renewable energy.
• "Net Billing" option allows households to install their own generation facilities and sell excess electricity at market prices. This promotes the active participation of citizens in the production of green energy, reduces dependence on traditional energy sources and stimulates local production of green energy.

We will remind that at the beginning of 2021, the share of RES, including hydroelectric stations, in the energy balance was 13.8%. The Cabinet of Ministers of Ukraine plans to achieve a doubling of this indicator by the end of 2030.

"This requires the attraction of at least 10 billion dollars of investment," said Oleksandr Martyniuk, head of the Directorate of Electric Energy Complex and Development of the Electric Energy Market, Ministry of Energy.

It is obvious that "green" energy will be at the center of the post-war recovery of Ukraine. It is planned to build:

• 7.1 GW of new capacities of alternative energy sources using market models of stimulation,
• 750 MW of storage capacities,
• 10 GW of hydrogen export.

In total, investment opportunities for new energy capacities amount to 383 billion dollars, in particular:

• Wind farms - 134 billion dollars,
• Solar energy - 62 billion dollars.

In addition to the development of wind and solar power plants, there are significant prospects for the development of renewable gas. Biomethane and green hydrogen can become an important component for the energy transformation of Ukraine and the European Union.