FINANCIAL MANAGEMENT OF THE RENEWABLE ENERGY SOURCES FOR COMPANIES IN EASTERN SLOVAKIA

Eastern Slovakia is the less industrialized part of Slovakia apart of that there are a lot of companies that can make a profit from renewable sources of energy. The solar, biomass and wind energy can be the sources that are not enough used by the companies in our region. Our goal is to summarize the profit of this kind of energy in comparison to usage of standard sources in this region. From the methodological prospect we used covariance and correlation matrices to find out whether there is a relation between each determinants, then we used logistic regression model to find out significance and after that we tested the model by the Augmented Dickey Fuller (ADF) Test and the Kwiatkowski-Phillips-Schmidt-Shin (KPSS) Test for the stationarity. T-test, Fisher test and R-2 test were performed as well. This paper has the very important findings for the companies that are finding the way how to use the renewable energy sources in their energy mix. The most important fact that we found out is cost effetivness analysis of renewable energy sources. We can see also some differences between the microregions in Eastearn Slovakia which can be productive for the companies.