Harnessing Renewable Energy for Sustainable Economic Growth and Environmental Resilience

Renewable energy sources are a crucial element of the overall sustainable global economic development system due to climate change, depletion of fossil fuel sources, and the need to reduce the negative impact on the environment. Additionally, in modern geopolitical challenges, escalating economic pressures, and regional disparities in renewable energy development further complicate the global transition to sustainable energy. This article aims to define the role of renewable energy sources in ensuring sustainable economic development and analyze the influence of key factors on their implementation in sustainable development. We analyzed literature sources, and statistical data, followed by comparative analysis, systematization, and generalization, to identify the key factors influencing the implementation of renewable energy sources. The expert assessment method revealed the impact of internal and external factors on the development of the energy sector. These factors include Politics (P), Economy (E), Social sphere (S), Technology (T), Ecology (E) and Law (L) pillars that influence the implementation of renewable energy sources in ensuring sustainable economic development. The findings suggest that political instability (P1 - -2.7) and the destruction of energy infrastructure (P2 - -3.0), as well as economic factors (Total E - 5.05 / -8.33), are currently the main negative factors affecting the renewable energy sector in Ukraine. Additionally, social (Total S - 4.63 / -8.67) and environmental aspects (Total E - 3.9 / -8.125) still lack adequate management by the government and public perception, negatively impacting the further development of renewable energy sources. At the same time, technological innovations (Total T - 9.1 / -9.1) and the legal environment (Total L - 9.16 / -9.16) show potential for further sectoral development. The implementation of alternative energy sources and the overall support of the energy sector mainly depend on balanced policies in the electricity sector, the sector's investment attractiveness, social support, and the availability of technological innovations.