The paper gives results of the investigation of the impact of energy efficiency and the use of renewable energy sources on the economy in the world. In relation to this, it is also noted that energy efficiency and the use of renewable energy sources play a vital role in meeting the needs for energy and global climate changes worldwide. Furthermore, a survey is presented of the measures that are being taken in promoting the use of renewable energy sources and the increase of the energy efficiency in Europe and other countries in the world.