A Review of the Monograph by Yu. Bilan, O. Chygryn, S. Kolosok “Environmental and Economic Impacts of Energy Transformation: Concepts Innovation and Business Models”

Abstract

In recent decades, there have been dramatic changes in the energy sector, which significantly influence other areas of activity. It is widely believed that traditional energy sources are the leading cause of air pollution, although they play the most prominent role in electricity generation. Such dependence on fossil energy sources is a significant challenge on the path to sustainable development. The introduction of sustainable business models and innovative concepts in the energy sector is a tool for transitioning from traditional to "green" energy to reduce the negative impact on the environment. Therefore, it is essential to estimate the effects of energy transformations and identify the environmental and economic effects of the deployment of such solutions. Sustainable business models can solve environmental problems associated with harmful emissions from the energy sector. These models are more environmentally friendly and are part of "green" growth. They ensure the creation and maintenance of the organizations’ values and provide competitive advantages in the industry. Although moving to sustainable business models is quite complex, they contain alternative solutions to avoid a global collapse due to energy shortages and climate change. In this regard, the priorities are to improve regulatory policy in the energy sector, the formation of environmentally friendly competitive advantages of energy companies, the description of opportunities to deploy smart energy networks, development of sustainable business models for energy sector transformation, optimization of energy financing.