The transition from timber to coal, oil and natural gas was very important for the development of today’s economy. The next transition from fossil fuels to renewable energy will be crucial to avoid catastrophic climate change. The implementation of renewable energy projects has a potential to create millions of jobs worldwide. Renewable energy offers our planet the opportunity to reduce carbon emissions, to purify the air and to make our civilization more sustainable. Renewable energy is an essential element within the general strategy of sustainable development. Renewable energy sources help to reduce dependence on energy imports, thus ensuring a sustainable energy supply and climate protection. In addition, renewable energy sources can help to improve the competitiveness of sectors in the long term and have a positive impact on regional development and employment. Directive 2018/2001 sets a common binding target for the Member States of the European Union to achieve a 32% share of renewable energy in the European Union’s final energy consumption by 2030. Latvia has planned its contribution to the achievement of the common goal of the European Union mainly by supporting the use of wind energy, solar energy, biomass and biogas, thus achieving a 50% share of renewable energy resources in final energy consumption. In order to achieve this goal, the share of renewable energy resources must be increased in all sectors: 1) electricity; 2) central heating; 3) local and individual heat supply; and 4) transport. In order to achieve the goal set by European Union, the governments of the member states of the European Union need to accelerate the use of the tools and programs to increase the share of renewable energy in national energy balances, thus reducing greenhouse gas emissions per unit of energy, as well as to provide more support to R&D institutions engaged in research and development of technological solutions of renewable energy to increase the amount of energy produced per 1 m2.