Efficient use of energy means meeting the necessary needs, without compromising the level of comfort and safety, effectively using energy resources that achieve a direct saving of resources and money. Effective use of energy has a direct impact on reducing energy costs in enterprises, thus increasing their competitiveness. The purpose of this report is to investigate the opportunities for energy efficiency improvement and evaluation of energy projects in industrial enterprises. The results show an increase in the production of RES from all types of power plants except HPP. Nevertheless, hydropower retains the largest share in the structure of RES production. At the same time, there is a decrease in the average cost to society of all types of RES, except for biomass. Europe faces a number of energy problems including: increasing dependence on imports, insufficient diversification, high and volatile energy prices, rising global energy demand, security risks affecting producer and transit states, increasing threats climate change, slow progress in the area of energy efficiency, challenges related to the use of an increasing share of renewable energy sources, and need of greater transparency, further integration and interconnection of energy markets.