Government support for solar energy in the context of the ESG transformation of the economy

2024

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DOI 10.66608/2617-085x.2024.1.1.004
Data confidence 70 medium
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Abstract

The article examines issues of state support for solar energy in the context of the ESG transformation of the economy. The relevance of the study is driven by the need to transition to a low-carbon development model, the strengthening of requirements for the sustainability of energy systems, and the growing role of renewable energy sources. The aim of the study is to systematize and analyze instruments of state support for solar energy from the perspective of the ESG approach, as well as to identify the key factors determining its effectiveness. The methodological basis of the research includes methods of analysis and synthesis of scientific literature, as well as comparative and structural-functional analysis. The paper summarizes the results of contemporary empirical studies reflecting the economic, institutional, social, and technological aspects of solar energy development. Based on the conducted analysis, the main directions of state support are identified: improving the economic efficiency of incentive instruments, developing risk management mechanisms, fostering demand and social acceptance, as well as supporting infrastructural and technological solutions. The results of the study show that the effectiveness of state support for solar energy is determined by its comprehensiveness and alignment with ESG principles. A conceptual model is proposed that reflects the relationship between public policy instruments and the achievement of environmental, social, and governance effects. The practical significance of the work lies in the possibility of using the obtained results in the development of public policy in the field of renewable energy development, including in the context of Kazakhstan.