Prospects for the use of solar energy in Georgia (მზის ენერგიის გამოყენების პერსპექტივა საქართველოში)

Abstract

The article presents research on the importance of solar energy, potential and investment opportunities in Georgia. Strengthening the electricity sector and energy independence is one of the main goal of development-oriented countries. The only way to replace imported electricity and satisfaction of increased demand is to increase electricity production. Solar energy as an inexhaustible resource is an actual issue in the world and more people are consuming it. However, in Georgia consumer awareness is rising about solar energy. The aim of the study was to study the electricity market in Georgia, assess the current situation and discuss about solar energy as an investment opportunity. The paper is based on official statistics, scientific articles and research results conducted in the energy sector. As Georgia continues its economic development the need for energy will continue to grow. If Georgia does not meet this challenge it may face an energy shortage in the next ten years. Georgia’s geographic location also presents an excellent opportunity for providing energy to neighboring countries. The study showed that, Georgia has the potential to become an attractive place for investors to invest in the Solar energy sector. The government of Georgia is offering benefits to potential investors today. The successful introduction of solar panel production will give more incentive to investors to take an interest in other components of the project, such as charging stations and electric vehicles. The use of solar energy in Georgia can bring significant benefits to the macro level - for the country, and at the micro level - for individual consumers. Considering climate change and international commitments, it is important for the state to take environmental measures, in which the use of solar energy will play an important role and save resources.