Renewable Energy and Economic Growth: Georgia’s Experience and Prospects

Abstract

In the modern world, energy security and sustainable development have become one of the most significant directions of economic policy. The paper examines the importance of renewable energy in economic growth and analyzes the economic, social, and environmental effects of using alternative energy sources. The theoretical framework of the research is based on the concepts of sustainable economic development and energy security. The article discusses the role of renewable energy in Georgia’s economic development and identifies primary directions for improving the country’s energy and economic policies. In conclusion, it demonstrates that the development of renewable energy helps reduce the country’s energy dependence, increase economic competitiveness, protect the environment, and create new jobs. The research findings can be used in the decision-making process related to energy policy, economic strategies, and sustainable development.