STATE STIMULATION OF INSTALLATION OF WIND AND SOLAR POWER PLANTS BY HOUSEHOLDS AND ITS IMPACT ON THE DEVELOPMENT OF CRYPTOCURRENCY MINING DURING THE RUSSIAN-UKRAINIAN WAR

Abstract

Honak I.M., Slatvinska M.O., Protsyshyn V.V. STATE STIMULATION OF INSTALLATION OF WIND AND SOLAR POWER PLANTS BY HOUSEHOLDS AND ITS IMPACT ON THE DEVELOPMENT OF CRYPTOCURRENCY MINING DURING THE RUSSIAN-UKRAINIAN WAR

Purpose. The aim of the article is the theoretical and practical substantiation of the prospects for interaction between the state and society in order to overcome the energy crisis associated with the consequences of the russian-Ukrainian war through the development of wind and solar power generation and, as a consequence, cryptocurrency heat generation.

Methodology of research. The methodological basis of this economic scientific research is the dialectical method of scientific cognition. In the process of economic scientific research, general scientific and special scientific methods were applied, among which the main ones are: abstract and logical methods – for formulating general conclusions of economic scientific research; systemic approach – in determining the causes and factors of the influence of the interaction of the state and society in the development of wind and solar power generation and, as a consequence, the development of cryptocurrency heat generation, on the energy security of households.

Findings. The role of green energy was studied, in particular, the trends in the installation of small solar and wind power plants by households and firms to ensure the economic, demographic and energy security of the country in the conditions of a full-scale russian-Ukrainian war. Based on the analysis, it was determined that state support for households' investment in the installation of their own solar and wind power plants through a reduction in the tax burden on the import of their components, as well as financial incentives for their purchase, is a key factor in the development of green energy.

It is estimated that investments by economic entities in the development of solar and wind power plants in 2024 and subsequent years will allow citizens not only to reduce electricity costs, avoid blackouts and ensure stable operation of critical electrical appliances, but will also contribute to energy independence in the long term. In addition, such investments can become a source of profit throughout the entire period of operation of energy equipment.

The possibilities of using excess electricity for cryptocurrency mining are analysed, which creates significant additional economic benefits for households. It is summarized that the combination of cryptocurrency mining and electricity generation by home solar and wind power plants creates a significant synergistic effect that has a mutual economic and security impact on households.

Based on the research conducted, it is substantiated that both during the war and in the post-war period, it is economically feasible for households to invest simultaneously in two areas – electricity production from renewable sources and cryptocurrency mining. This will maximize the benefits from the use of generated electricity, increase financial stability, and promote energy autonomy.

Originality. The substantiation of the feasibility of introducing state investment support for households by economic entities in the purchase of solar power plants and their payback with the possibility of ensuring a synergistic positive economic effect at the micro- and macro-economic level has gained further development.

Practical value. The obtained results of the study can serve as the basis for households and firms to make decisions on the installation of wind and solar power plants for electricity generation in order to meet personal needs and, as a result, additional heat generation, and the mining of crypto coins using cryptocurrency farms is advisable for the state and its citizens due to the achievement of a significant positive synergistic economic effect.

Key words: investments, wind power plants, solar power plants, green energy, cryptocurrency, mining.