*3.2. Renewable Energy Sector*

Renewable energy sources (RES) are promising in the long-term development of the energy sector. As such, the question of their high use efficiency is one of the most discussed issues of recent decades. RES have several key features that ensure their high demand:

1. RES are a group of primary energy resources that are considered inexhaustible for foreseeable future consumption. Moreover, they have an extensive geographical range to allow the creation and scaling of decentralized energy supply systems [63] and, as a result, avoid the problems related to the creation of centralized infrastructures.

2. Theoretically, RES technologies are carbon-free, with some exceptions. Nevertheless, when considering them in view of the entire lifecycle, including the production and use of worn equipment, environmental issues become more controversial [64].

Despite di fferences in nature, the majority of RES have similar problems that do not allow them to be considered a complete substitution for HCR at the current stage of development.


Coping with these four barriers is the main task of RES development proponents. Due to this, it is one of the most invested-in sectors today [71–73]. However, it should be taken into account that while seeking higher volumes of investment, one may forget that the e fficiency of studies and innovation progress may grow disproportionately with the investment volume [74].

There are no studies of investment volume influencing their e fficiency, due to objective problems of scientific and innovation activity assessment. Similar to market mechanisms, unlimited financing leads to a loss of competition, and this would result in lower quality and e fficiency. The same can be applied in the global scientific sector; however, additional studies will be required to prove this.

A step towards the short-term global transition to RES is an attractive perspective, but hard to access due to some objective reasons [75]. Gradual transition is required, which can be objectively traced against a gradual decrease in the share of hydrocarbons in the global energy balance. Additionally, this transition must occur under the influence of objective competitive factors other than political influence and creation of artificial conditions for the displacement of existing hydrocarbon technologies.
