Green Economics: Assessing the Viability of Renewable Energy Investments

Abstract

The global imperative to address climate change has thrust renewable energy into the forefront of economic discourse. As traditional energy sources contribute to environmental degradation, the adoption of renewable alternatives is seen as crucial for sustainable development. This paper undertakes a comprehensive analysis of the viability of renewable energy investments within the framework of green economics. The study employs a multidisciplinary approach, integrating economic, environmental, and social factors to evaluate the feasibility and potential impact of renewable energy projects. Utilizing a combination of quantitative models and case studies, the research examines the financial viability of renewable energy investments, considering factors such as return on investment, payback periods, and financial risks. Furthermore, the environmental dimension is assessed through a life cycle analysis, evaluating the overall ecological footprint of renewable energy technologies compared to conventional sources. The study also investigates the social implications, exploring the potential for job creation, community engagement, and equitable access to clean energy resources.