The major starting point of any renewable energy-based project is an accurate theoretical assessment of available renewable energy sources and analysis of an economically optimal location. The northeastern part of Hungary is an economically disadvantaged region with a high unemployment rate; for these reasons, it is important to find ways to reduce the region's energy dependence. The Nyírség microregion within this zone was chosen as the focus of this master thesis in order to augment general knowledge and investigate one specific site's ability to generate feasible future investments. This master thesis evaluates the renewable energy potential and examines energy use at a typical industrial site within the Nyírség region. The research identifies and evaluates the renewable options for this site and suggests an implementation plan for reducing conventional energy consumption. At this given site, solar energy utilization presented the most viable option, so a solar energy-based investment is assessed which could work in parallel with the plant's existing heating system. The final step was to provide an economic assessment to determine the financial viability of moving towards renewables. The master thesis concludes that a financial break-even point for the proposed system is already in the range of the end of life span of such installations, where it is questionable whether they are fully paid off at all. With a 50% investment subsidy, the break-even point was calculated to be within 17 years of implementation. This means that currently, funding is not only important for accelerating the implementation speed, but highly necessary for any implementation at all.