EDITIONS

Energy is a key field of not only economic, ecological, climatic, but also political challenges and risks of modernity. Special attention is paid to the energy sector in the context of global climate change. Increasing the use of solar, wind, hydropower, geothermal energy and biomass will reduce greenhouse gas emissions and switch to fossil fuel-based economies of clean sources. The European Union- goals to replace traditional energy with renewables – are becoming more ambitious each time. The “Global Green Agreement”, which should be the basis of the EU’s economic vision, provides additional incentives for this. In the paper has been conducted an energy economic analysis of Georgian energy; Have been discussed the target indicators and characteristics of the energy sector; The most important tasks of energy security, energy saving and raising the level of energy efficiency is formulated; The directions to solve these problems are outlined in this work.

Second of all, Georgia should try to engage in a series of radical, revolutionary changes known as the “4th Energy Transition.” With this transition, the use of fossil fuels will be reduced to a minimum in the next 10 years, and in 2050 the correction of “carbon neutral” energies around the world is announced. The use of solar and wind energy requires backup capacities, the cheapest source of which is again hydropower. In the paper we have substantiated and analyzed the most important issues of the need to develop hydropower resources and give recommendations based on research. In our opinion, in order to deepen political and economic relations with the EU, it is important to gradually bring Georgian legislation closer to the European one, which will help establish a concrete, transparent and efficient energy market model, create an attractive and stable investment environment, develop energy resources through the development of renewable energy resources and the implementation of energy efficiency measures.

On the other perspective the Green Agreement” of Europe is a long-term path to the transition to a lowcarbon economy, in accordance with the terms of the Paris Agreement. It envisions Europe as the first carbon neutral continent by 2050. To achieve this goal, the EU plans to reduce emissions by 50% by 2030 compared to 1990. Naturally, this can only be achieved through the adoption and implementation of relevant strategic documents and decisions. Accordingly, our paper discusses the main essence of the Green Agreement, the challenges associated with its implementation and its impact on the future of the Eastern Partnership, especially Georgia.

Keywords: Energy legislation, Energy security, Emissions Reduction, Renewable Energy Resources.