Alternative and renewable energy policy in Europe

Abstract

Driven by the fact that the global oil market has become extremely volatile and the EU dependence on oil continues to grow, this paper argues that with more emphasis on renewable energy and by using domestically produced alternative energy sources instead of importing foreign oil the EU Member States would drastically improve their energy security and energy independence. The study investigates both past and present trends in the EU energy sources supply and consumption patterns. Additionally, the paper considers possibilities of the renewable and alternative energy both at the current stage and future development of this sector in the EU. The research findings confirm the initial hypothesis as to whether the share of alternative and renewable energy will be sufficiently large to contribute to solving a problem of the EU energy security and independency. The role of the renewables in national energy security strategies of three EU Member States is studied and government supporting policies that enhance renewable sources development are analyzed.