The objective of the study was to analyse the policy and economy of renewable energy sources development in the Northern Black Sea Coast of Ukraine. Presently the share of the renewable energy resources in the power balance of Ukraine is rather small, namely 0.3% of the general development of the electric power. Nevertheless, Ukraine has huge potential with this regard. The accepted power strategy of Ukraine till 2020 has to play an important role. The potential of renewable energy sources in Ukraine makes 113 million tons of equivalent fuel whereas taking into consideration the modern level of production, traditional energy sources can provide Ukraine with 68 million tons of equivalent fuel with fuel and energy resources. The required theoretical level of the research included the use of analysis, comparison and synthesis. The analysis of the alternative energy development, which aims at experience and forecast of possible ways of development has given the opportunity to obtain the result of the research within vertical (historical) and horizontal (functional) scopes. In the southern regions of the country the investment projects aiming at the creation of power plants, working with sun and wind energy are actively carried out. The Northern Black Sea Coast of Ukraine is the most suitable region for development of this branch of alternative power engineering.