WIND AND SOLAR POWER PLANTS AND CRYPTOCURRENCIES AS OBJECTS FOR INVESTMENT DURING THE RUSSIAN-UKRAINIAN WAR

Authors

  • Ihor Honak сand.sc.(econ.), West Ukrainian National University, Ternopil
  • Maryna Slatvinska dr.sc.(econ.), professor, head of the finance department, Odessa National University of Economics
  • Volodymyr Protsyshyn postgraduate student at the department of finance, Odesa National University of Economics

DOI:

https://doi.org/10.37332/2309-1533.2023.4.20

Keywords:

investment, wind farms, solar farms, green energy, cryptocurrency market, cryptocurrency, crypto coin, Bitcoin.

Abstract

Honak I.M., Slatvinska M.О., Protsyshyn V.V. WIND AND SOLAR POWER PLANTS AND CRYPTOCURRENCIES AS OBJECTS FOR INVESTMENT DURING THE RUSSIAN-UKRAINIAN WAR

Purpose. The aim of the article is theoretical substantiation of investment prospects in the development of wind and solar power plants and cryptocurrency as an effective investment object in the conditions of a full-scale Russian-Ukrainian war.

Methodology of research. The methodological basis of economic research is the dialectical method of scientific knowledge. General scientific and special methods were used in the process of economic research, the most important of which are: abstract and logical methods – for formulating general conclusions of economic research; systematic approach – in determining the causes and factors of the impact of investing in wind and solar power plants and cryptocurrencies on the national economy.

Also, the authors used the following special methods of economic research during the writing of the article: direct observation was carried out – collection of information about the value of the cryptocurrency Bitcoin on the website https://www.coingecko.com/en/coins/bitcoin in the period from 01.01.2023 to 01.11.2023; statistical methods of information processing were applied to determine the value of the Bitcoin cryptocurrency from January 1, 2023 to November 1, 2023.

Findings. It was determined that after the start of the large-scale invasion of the Russian army into Ukraine on February 24, 2022, the structure of attractiveness of investment objects in Ukraine changed dramatically – when making investments in shares of national enterprises, Ukrainian domestic government loan bonds, and foreign currencies, economic losses occur, but investing in cryptocurrencies and green energy facilities has become much more attractive.  Investment investments of economic entities during 2022‒2023 in electric and wind power plants and other green energy facilities, which are due to both the significant economic effect of the introduction of "green" aggregates and the provision of energy independence for economic entities, have been analysed.

It is substantiated that mining and trading of cryptocurrencies in Ukraine causes significant positive effects on both the macro and micro levels. The increase in the value of cryptocurrencies in 2023 has brought a significant economic effect for cryptocurrency miners and direct investors in cryptocurrency coins.

It has been proven that the spheres of application of cryptocurrencies and green energy are intertwined and cause significant mutual economic impact. Therefore, it makes economic sense for an investor to engage in two businesses in parallel and simultaneously to ensure the maximum positive synergistic effect.

It has been found that the impact of green energy and cryptocurrencies on the economy will undergo significant changes with the expansion of the spheres of use of cryptocurrencies and the expansion of the geography of the use of wind, power plants and other objects of green energy and the change in their legal regulation in the conditions of military operations, which will require reflection in further scientific economic research.

Originality. The possibilities of parallel investment by economic entities in cryptocurrencies and wind and solar power plants with the possibility of achieving a positive synergistic economic effect during the full-scale Russian-Ukrainian war in 2022‒2023 are considered.

Practical value. According to the authors, investing in wind and solar power plants of cryptocurrency is simultaneously advisable in order to achieve a positive synergistic economic effect during the full-scale Russian-Ukrainian war and the post-war period.

Key words: investment, wind farms, solar farms, green energy, cryptocurrency market, cryptocurrency, crypto coin, Bitcoin.

References

Ministry of Finance (2023), “Inflation in the United States has reached its lowest level in more than a year”, available at: https://minfin.com.ua/ua/2023/01/12/98888377/ (access date Jule 01, 2023).

Ministry of Finance (2023), “Summary table of consumer price indices in 2022, (%)”, available at: https://index.minfin.com.ua/ua/economy/index/inflation/2022/ (access date October 11, 2023).

Ministry of Finance (2023), “Domestic government bonds in 2022”, available at: https://index.minfin.com.ua/ua/finance/bonds/ (access date Novemer 01, 2023).

Chepur, D. (2023), “The world is entering the era of clean energy. The share of green energy has reached a record 12%”, Forbes, available at: https://forbes.ua/news/zelena-energetika-zabezpechue-12-svitovikh-potreb-zvit-12042023-13001 (access date August 05, 2023).

Mykhailova, L.M., Semenyshyna, I.V. and Shpatakova, O.L. (2023), “Green energy as a factor of energy independence of Ukraine”, Ekonomika ta suspilstvo, no. 43, available at: https://economyandsociety.in.ua/index.php/journal/article/view/2090 (access date October 01, 2023).

Putsenteilo, O.P. (2020), “Cryptocurrency as a trend of the XXI century”, Perspektyvy rozvytku nauky i biznesu v hlobalnomu seredovyshchi : materialy Mizhnar. nauk.-prakt. konf. [Prospects for the development of science and business in the global environment : materials of the International scientific and practical conference], Ternopil, May 20, TNEU, Ternopil, Ukraine, pp. 200-201, available at: http://dspace.wunu.edu.ua/bitstream/316497/38104/1/%D0%9F%D0%A3%D0%A6%D0%95%D0%9D%D0%A2%D0%95%D0%99%D0%9B%D0%9E%20%D0%9E..pdf (access date Jule 15, 2023).

Halushka, Ye.O. and Pakon, O.D. (2017), “The essence of cryptocurrencies and prospects for their development”, Molodyi vchenyi, no. 4 (44), available at: http://molodyvcheny.in.ua/files/journal/2017/4/147.pdf (access date Jule 07, 2023).

Cherkashyn, V. (2021), “Ukraine ranked tenth in the list of countries that received the largest profit from the sale of bitcoin”, ZN.UA, available at: https://zn.ua/ukr/macrolevel/lishe-za-rik-ukrajinski-majneri-prodali-bitkojiniv-na-400-mln-dol.html (access date August 08, 2023).

Bitcoin (BTC). Price Chart. CoinGecko, available at: https://www.coingecko.com/en/coins/bitcoin (access date November 01, 2023).

Ministry of Finance (2021), “Cryptocurrency mining can even be used to heat a house”, available at: https://minfin.com.ua/ua/2021/05/23/65239574/ (access date November 10, 2023).

Rebryk, M.A. (2021), “Cryptoassets: myths vs facts and potential impact on the monetary sphere”, Seminar for university professors, May 29, National Bank of Ukraine, Kyiv, Ukraine, 29 p., available at: https://bank.gov.ua/admin_uploads/article/Rebryk_2021-29-05.pdf?v=4 (access date August 05, 2023).

Downloads

Issue

No. 4 (2023): INNOVATIVE ECONOMY

Section

Information technology and economic security

License

Open-access articles (open-access journals)

Authors whose articles are published in open-access retain all rights to the content of the articles.

Open access articles are committed to be published under Creative Commons Attribution (CC BY) 4.0. This license allows others to distribute, edit, correct and build upon your work, even commercially, as long as they indicate your authorship. Detailed information at Creative Commons site: https://creativecommons.org/licenses/by/4.0/

Permissions for open-access journals

If the article is published in open-access under CC BY 4.0 or CC BY-NC 4.0 (which was possible till the 15th of December, 2018) licenses, users may reproduce it in accordance with their terms.

Additionally, if the article had been published under CC BY-NC 4.0 (this license authorizes others to download your works and share them with others as long as they indicate your authorship, but they can’t use them commercially in any case.), the use for the following commercial purposes requires permission:

– reproduction of content in a work or product intended for sale;

– reproduction in presentations, brochures or other marketing materials used for commercial purposes;

– distribution of the content to promote or market a person, product, course, service or organization;

– text and data mining for the purpose of creating a saleable product or product which benefits from promotional or advertising revenue;

– use of the content by a commercial entity or individual for the purposes of remuneration, directly or indirectly through sale, licensing, promotion or advertising;

– linking to the content (in an email, webpage, portable electronic device or otherwise) for the specific purpose of marketing or advertising a person, product, course, service or organization for commercial benefit.

For further details and permission requests, please contact.

How to Cite

“WIND AND SOLAR POWER PLANTS AND CRYPTOCURRENCIES AS OBJECTS FOR INVESTMENT DURING THE RUSSIAN-UKRAINIAN WAR”. INNOVATIVE ECONOMY, no. 4, Feb. 2024, pp. 141-7, https://doi.org/10.37332/2309-1533.2023.4.20.