Alternative Energy Sources and the Future of the Oil and Gas Sector: Transition to Sustainable Energy Solutions

This paper considers the issue of the peculiarities of development of modern technologies and methods in the oil and gas industry, as well as their impact on the country's economy. A cross-sectional and comparative analysis of the influence of various factors on the growth of environmental efficiency and their development through the introduction of technologies is carried out. The article examines the importance of renewable energy sources (RES) as environmentally friendly and cost-effective solutions against the background of the expected depletion of fossil resources. Historical background and current trends in the development of alternative energy, including solar, wind and geothermal energy are considered. The importance of switching to RES to improve the environmental situation and ensure sustainable development is emphasized. The paper presents the issue of alternative methods of electricity production, the current state and prospects for the development of alternative energy. The paper considers the theoretical foundations and features of renewable energy sources (RES). Renewable energy sources, their use, advantages, problems of alternative energy and ways to solve them are considered. In the modern world, it is impossible to do without electrical energy. Large enterprises, factories and private households cannot operate without electricity. At the same time, the traditional method of obtaining electrical energy will introduce environmental problems, thereby condemning humanity to search for ways to obtain energy without harming the environment, i.e. renewable energy sources. Renewable energy sources (RES) play an increasingly important role in the modern energy sector. These are energy sources that can be restored naturally and are not exhausted during operation. Renewable energy sources or as it is called green energy is environmentally friendly. Electricity is generated from virtually inexhaustible resources that do not have a negative impact on the environment and are used to increase the level of energy security. Keywords: Renewable energy, alternative energy, environmental friendliness, sustainable development, energy efficiency, renewable energy sources. JEL: D02, L94, Q55, Q56: UDC: 338.24:620.98:330.341.4