Author: Kuziev, Asadbek Shakir ugli

Annotation: Renewable energy has become a central component of sustainable economic development strategies worldwide. As countries seek to reduce greenhouse gas emissions, strengthen energy security, and create new industries, investments in solar, wind, hydropower, and biomass have expanded significantly. This study examines the relationship between renewable energy and economic growth through a qualitative review of recent scholarly literature. The analysis shows that renewable energy contributes to economic growth by stimulating capital investment, generating employment, improving technological innovation, and reducing dependence on imported fossil fuels. In both developed and developing economies, renewable energy projects enhance productivity and support long-term environmental sustainability. However, the growth effects vary according to institutional quality, financing capacity, infrastructure readiness, and policy consistency. Initial investment costs and grid integration challenges may constrain short-term benefits, particularly in lower-income countries. Nevertheless, the long-term evidence indicates a generally positive association between renewable energy consumption and gross domestic product (GDP). The article concludes that renewable energy should be viewed not only as an environmental necessity but also as a strategic engine of economic transformation and inclusive growth.

Keywords: Renewable Energy; Economic Growth; Sustainable Development; Green Investment; Energy Transition; Environmental Economics

Pages in journal: 540 - 544