IDEAS home Printed from https://ideas.repec.org/a/eco/journ2/2023-01-5.html
   My bibliography  Save this article

Renewable Solar Energy Resources Potential and Strategy in Azerbaijan

Author

Listed:
  • Bahman Huseynli

    (Azerbaijan State University of Economics (UNEC), State Employment Agency, Baku, Azerbaijan.)

Abstract

Solar energy is an inexhaustible and pollution-free energy source that plays a significant role in the sustainable provision of energy services. The main purpose of this study is to examine the potential, current situation, future strategies, and policies of solar energy, which is a renewable resource in Azerbaijan. This study is research in which qualitative methods are used and within the scope of the study, literature review, systematic approach and inductive methods were used. In the study, Azerbaijan's policy towards solar energy has been examined based on the potential sources of solar energy, the current situation and the country's future strategies. Azerbaijan is slightly behind in the production of electricity from renewable energy sources. Along with all this, the most important strategic goals for the use of renewable and alternative energy sources in Azerbaijan have been defined. Thus, by 2030, the share of renewable energy investment in the country's total energy balance to 30% has been determined as the main goal. As a result of the study, it can be said that solar energy policies will have a positive effect on the country's economy in the coming years, since Azerbaijan has a geographical location and an infrastructure system that can be delivered to the countries in need.

Suggested Citation

  • Bahman Huseynli, 2023. "Renewable Solar Energy Resources Potential and Strategy in Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(1), pages 31-38, January.
    • Handle: RePEc:eco:journ2:2023-01-5
    as

    Download full text from publisher

    File URL: https://www.econjournals.com/index.php/ijeep/article/download/13796/7105
    Download Restriction: no
    File URL: https://www.econjournals.com/index.php/ijeep/article/view/13796
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Asl, Mahdi Ghaemi & Canarella, Giorgio & Miller, Stephen M., 2021. "Dynamic asymmetric optimal portfolio allocation between energy stocks and energy commodities: Evidence from clean energy and oil and gas companies," Resources Policy, Elsevier, vol. 71(C).
    2. Jeyhun I. Mikayilov & Marzio Galeotti & Fakhri J. Hasanov, 2018. "The Impact of Economic Growth on CO2 Emissions in Azerbaijan," IEFE Working Papers 102, IEFE, Center for Research on Energy and Environmental Economics and Policy, Universita' Bocconi, Milano, Italy.
    3. Rezk, Hegazy & AL-Oran, Mazen & Gomaa, Mohamed R. & Tolba, Mohamed A. & Fathy, Ahmed & Abdelkareem, Mohammad Ali & Olabi, A.G. & El-Sayed, Abou Hashema M., 2019. "A novel statistical performance evaluation of most modern optimization-based global MPPT techniques for partially shaded PV system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 115(C).
    4. Serhat Yüksel & Hasan Dinçer & Yurdagül Meral, 2019. "Financial Analysis of International Energy Trade: A Strategic Outlook for EU-15," Energies, MDPI, vol. 12(3), pages 1-22, January.
    5. Hereher, Mohamed & El Kenawy, Ahmed M., 2020. "Exploring the potential of solar, tidal, and wind energy resources in Oman using an integrated climatic-socioeconomic approach," Renewable Energy, Elsevier, vol. 161(C), pages 662-675.
    6. Aneke, Mathew & Wang, Meihong, 2016. "Energy storage technologies and real life applications – A state of the art review," Applied Energy, Elsevier, vol. 179(C), pages 350-377.
    7. Plank, Josef & Doblinger, Claudia, 2018. "The firm-level innovation impact of public R&D funding: Evidence from the German renewable energy sector," Energy Policy, Elsevier, vol. 113(C), pages 430-438.
    8. Peinado Gonzalo, Alfredo & Pliego Marugán, Alberto & García Márquez, Fausto Pedro, 2019. "A review of the application performances of concentrated solar power systems," Applied Energy, Elsevier, vol. 255(C).
    9. Bahman Huseynli & Nigar Huseynli, 2022. "Econometric Analysis of the Relationship between Renewable Energy Production, Traditional Energy Production and Unemployment: The Case of Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(4), pages 379-384, July.
    10. Nigar Huseynli, 2022. "Econometric Analysis of the Relationships Between Growth, Exports and Energy Exports in Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(2), pages 379-385, March.
    11. Nigar Huseynli, 2022. "Effect of Renewable Energy and Traditional Energy Production on Economic Growth: The Case of Turkey and Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(3), pages 257-261, May.
    12. Khan, Imran, 2020. "Impacts of energy decentralization viewed through the lens of the energy cultures framework: Solar home systems in the developing economies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 119(C).
    13. Pengran Zhou & Pengfei Zhou & Serhat Yüksel & Hasan Dinçer & Gülsüm Sena Uluer, 2019. "Balanced Scorecard-Based Evaluation of Sustainable Energy Investment Projects with IT2 Fuzzy Hybrid Decision Making Approach," Energies, MDPI, vol. 13(1), pages 1-20, December.
    14. Magazzino, Cosimo & Mele, Marco & Schneider, Nicolas, 2021. "A machine learning approach on the relationship among solar and wind energy production, coal consumption, GDP, and CO2 emissions," Renewable Energy, Elsevier, vol. 167(C), pages 99-115.
    15. Dejun Qiu & Hasan Dinçer & Serhat Yüksel & Gözde Gülseven Ubay, 2020. "Multi-Faceted Analysis of Systematic Risk-Based Wind Energy Investment Decisions in E7 Economies Using Modified Hybrid Modeling with IT2 Fuzzy Sets," Energies, MDPI, vol. 13(6), pages 1-25, March.
    16. Feyruz Mustafayev & Przemyslaw Kulawczuk & Christian Orobello, 2022. "Renewable Energy Status in Azerbaijan: Solar and Wind Potentials for Future Development," Energies, MDPI, vol. 15(2), pages 1-24, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Vusal Gasimli & Ramil Huseyn & Rashad Huseynov, 2024. "What Advantages Arise from the Shift Towards Sustainable Energy Sources in Resource-Rich Economies? Empirical Insights from Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 12-20, January.
    2. Udit Chawla & Rajesh Mohnot & Akinola Fadahunsi & Devika Mulchandani, 2024. "The Bright Revolution: Accelerating Adoption of Solar Energy in India’s Dynamic Landscape," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 226-233, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yu, Jinna & Tang, Yuk Ming & Chau, Ka Yin & Nazar, Raima & Ali, Sajid & Iqbal, Wasim, 2022. "Role of solar-based renewable energy in mitigating CO2 emissions: Evidence from quantile-on-quantile estimation," Renewable Energy, Elsevier, vol. 182(C), pages 216-226.
    2. Yu, Jinna & Saydaliev, Hayot Berk & Liu, Zhen & Nazar, Raima & Ali, Sajid, 2022. "The asymmetric nexus of solar energy and environmental quality: Evidence from Top-10 solar energy-consuming countries," Energy, Elsevier, vol. 247(C).
    3. Bahman Huseynli, 2023. "Effect of Exports of Goods and Services and Energy Consumption in Italy`s Service Sector," International Journal of Energy Economics and Policy, Econjournals, vol. 13(3), pages 254-261, May.
    4. Tanveer, Waqas Hassan & Abdelkareem, Mohammad Ali & Kolosz, Ben W. & Rezk, Hegazy & Andresen, John & Cha, Suk Won & Sayed, Enas Taha, 2021. "The role of vacuum based technologies in solid oxide fuel cell development to utilize industrial waste carbon for power production," Renewable and Sustainable Energy Reviews, Elsevier, vol. 142(C).
    5. Yue Meng & Haoyue Wu & Wenjing Zhao & Wenkuan Chen & Hasan Dinçer & Serhat Yüksel, 2021. "A hybrid heterogeneous Pythagorean fuzzy group decision modelling for crowdfunding development process pathways of fintech-based clean energy investment projects," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-34, December.
    6. Yiqing Zhao & Renata Korsakienė & Hasan Dinçer & Serhat Yüksel, 2022. "Identifying Significant Points of Energy Culture for Developing Sustainable Energy Investments," SAGE Open, , vol. 12(1), pages 21582440221, March.
    7. Bahman Huseynli, 2024. "Coal Energy in Energy Consumption: An Empirical Analysis in the Case of Russia and Türkiye," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 541-548, May.
    8. Georgescu, Irina Alexandra & Oprea, Simona-Vasilica & Bâra, Adela, 2024. "Investigating the relationship between macroeconomic indicators, renewables and pollution across diverse regions in the globalization era," Applied Energy, Elsevier, vol. 363(C).
    9. Li, Xiaolong & Ozturk, Ilhan & Ullah, Sana & Andlib, Zubaria & Hafeez, Muhammad, 2022. "Can top-pollutant economies shift some burden through insurance sector development for sustainable development?," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 326-336.
    10. Li Zhe & Serhat Yüksel & Hasan Dinçer & Shahriyar Mukhtarov & Mayis Azizov, 2021. "The Positive Influences of Renewable Energy Consumption on Financial Development and Economic Growth," SAGE Open, , vol. 11(3), pages 21582440211, August.
    11. Miguel J. Prieto & Juan Á. Martínez & Rogelio Peón & Lourdes Á. Barcia & Fernando Nuño, 2017. "On the Convenience of Using Simulation Models to Optimize the Control Strategy of Molten-Salt Heat Storage Systems in Solar Thermal Power Plants," Energies, MDPI, vol. 10(7), pages 1-17, July.
    12. Qin, Chao & Saunders, Gordon & Loth, Eric, 2017. "Offshore wind energy storage concept for cost-of-rated-power savings," Applied Energy, Elsevier, vol. 201(C), pages 148-157.
    13. Anaf Abdulkarem & Wenhua Hou, 2022. "The Influence of the Environment on Cross-Border E-Commerce Adoption Levels Among SMEs in China: The Mediating Role of Organizational Context," SAGE Open, , vol. 12(2), pages 21582440221, June.
    14. Sedighi, Mohammadreza & Padilla, Ricardo Vasquez & Alamdari, Pedram & Lake, Maree & Rose, Andrew & Izadgoshasb, Iman & Taylor, Robert A., 2020. "A novel high-temperature (>700 °C), volumetric receiver with a packed bed of transparent and absorbing spheres," Applied Energy, Elsevier, vol. 264(C).
    15. Luigi Fortuna & Arturo Buscarino, 2022. "Sustainable Energy Systems," Energies, MDPI, vol. 15(23), pages 1-7, December.
    16. Chwiłkowska-Kubala, Anna & Cyfert, Szymon & Malewska, Kamila & Mierzejewska, Katarzyna & Szumowski, Witold, 2023. "The impact of resources on digital transformation in energy sector companies. The role of readiness for digital transformation," Technology in Society, Elsevier, vol. 74(C).
    17. Segovia Ramírez, Isaac & Pliego Marugán, Alberto & García Márquez, Fausto Pedro, 2022. "A novel approach to optimize the positioning and measurement parameters in photovoltaic aerial inspections," Renewable Energy, Elsevier, vol. 187(C), pages 371-389.
    18. -, 2023. "Foreign Direct Investment in Latin America and the Caribbean 2023," La Inversión Extranjera Directa en América Latina y el Caribe, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 48979 edited by Eclac, May.
    19. Bongsuk Sung & Myoung Shik Choi & Woo-Yong Song, 2019. "Exploring the Effects of Government Policies on Economic Performance: Evidence Using Panel Data for Korean Renewable Energy Technology Firms," Sustainability, MDPI, vol. 11(8), pages 1-19, April.
    20. Tomiwa Sunday Adebayo & Abraham Ayobamiji Awosusi & Seun Damola Oladipupo & Ephraim Bonah Agyekum & Arunkumar Jayakumar & Nallapaneni Manoj Kumar, 2021. "Dominance of Fossil Fuels in Japan’s National Energy Mix and Implications for Environmental Sustainability," IJERPH, MDPI, vol. 18(14), pages 1-20, July.

    More about this item

    Keywords

    Renewable solar energy; Solar energy potential; Solar energy strategy; Renewable energy policy; Azerbaijan;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ2:2023-01-5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ilhan Ozturk (email available below). General contact details of provider: http://www.econjournals.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.