Renewable energies in the technological age and sustainable investment solutions for the "Smart future"

Ramin Tsinaridze () and Giorgi Rizhvadze ()
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Ramin Tsinaridze: Batumi Shota Rustaveli State University, Batumi, Georgia
Giorgi Rizhvadze: Batumi Shota Rustaveli State University, Batumi, Georgia

Access Journal, 2024, vol. 5, issue 3, 493-510

Abstract: Objectives: Modern trends clearly reflect the increasing adoption of renewable energy technologies and their integration into smart systems. This scientific paper aims to assess the effectiveness of sustainable investment decisions in renewable energy in the face of the challenges posed by technological progress. Methods/Approach: To achieve (or solve) the set goal, the following scientific research methods were used: - Analytical: for collecting and summarizing statistical information and processing scientific literature on renewable energy; - Abstract-logical: for determining the factors influencing investment decisions in this field; - Quantitative: for determining the cause-and-effect relationship between investments, technological progress, and investment decisions using correlation coefficients; - Generalization: This is used to formulate conclusions based on the research results. Results: The correlation between technological progress, renewable energy, and investment decisions is established. Factors affecting public attitude towards renewable energy are identified, and the transformational impact of innovations on the effective integration and use of renewable resources is assessed. Conclusions: International experience and current trends indicate that the convergence of renewable energy and technologies is a wise decision for creating a "smart future" and fostering better development. By reducing the world's reliance on fossil fuels and minimizing our carbon footprint, adopting renewable energy is crucial for mitigating climate change and preserving ecosystems. Incorporating renewable energy technologies into regional planning not only increases energy efficiency but also contributes to the development of a resilient, intelligent urban environment. Effective implementation of sustainable investment solutions requires a collective commitment to overcoming challenges, sharing best practices, and developing innovations with advanced renewable energy technologies.

Keywords: Renewable Energy; Smart Technology; Environmental Innovation; correlation; Investment decisions; "Green economy" (search for similar items in EconPapers)
JEL-codes: E22 G11 P18 P28 Q42 Q57 R11 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aip:access:v:5:y:2024:i:3:p:493-510

DOI: 10.46656/access.2024.5.3(7)

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