Renewable energy innovations: Synergy of technology and sustainable development

Alla Tkachenko and Vilayet Ismayilov

Management and Business Articles, 2025, vol. 2, issue 2, 43-51

Abstract: The paper highlighted the relevance of the topic in the context of global challenges, including climate change, population growth, and the need to decarbonise the economy. The purpose of this article was to substantiate the role of renewable energy innovations, as well as the impact of modern projects, such as new generation offshore wind turbines (Haliade-X, WindFloat Atlantic) on achieving sustainable development. Various types of data analysis and visualisation were used in the writing of the paper. Data and information analysis methods, cross-sectional and descriptive analysis were applied. The main focus was on innovative solutions such as perovskite solar panels, bladeless wind turbines, hydrogen energy systems, new generation battery systems, and integrated smart grids. The authors assume that by 2033, global investment in renewable energy sources will reach $1 trillion per year, and annual savings from lower energy costs and energy efficiency will be up to $450 billion. For Ukraine, investments are projected to grow from $2 billion in 2023 to $40 billion in 2033, which will contribute to energy independence and post-war infrastructure restoration. Developing renewable energy sources will not only diversify exports but also create an environmentally friendly sector of the economy. The article described how innovations in renewable energy sources can reduce dependence on fossil fuels, contribute to the decarbonisation of industry, and improve energy security. The paper considered a synergistic approach to the integration of various technologies, such as solar and wind energy, hydrogen systems, and smart grids. This allowed optimising energy flows and reducing losses, which was important for energy systems. The work created a scientific and practical basis for further research and development, as well as for the widespread introduction of innovations in the field of renewable energy sources. This will ensure sustainable economic growth, economic competitiveness, and environmental issues

Keywords: smart grids; investment; cost; economic effect; decarbonisation; profit; economic recovery (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:bdw:emsesd:v:2:y:2025:i:2:p:43-51

DOI: 10.59214/mb/2.2024.43

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