IMPACT OF ALTERNATIVE ENERGY INVESTMENTS ON EMPLOYMENT IN AZERBAIJAN

Abstract

Transition to alternative energy sources is increasingly recognized as a vital component of global efforts to mitigate climate change and foster sustainable development. This study examines the impact of alternative energy investments on employment, focusing on the renewable energy sector's role in generating job opportunities. Paper explores the mechanisms through which investments in alternative energy projects, such as wind, solar, hydroelectric, and biomass, influence employment outcomes. Key factors influencing employment generation, including technological innovation, infrastructure development, policy frameworks, and market dynamics, are analyzed to understand the complex interplay between alternative energy investments and labor markets. The study highlights the potential for alternative energy investments to create diverse employment opportunities across various sectors. Furthermore, it examines the socio-economic benefits of renewable energy projects in terms of job creation, skills development and income generation. By elucidating the relationship between alternative energy investments and employment, this research contributes to a deeper understanding of the transformative potential of renewable energy transition in devising strategies to maximize the socio-economic benefits of sustainable energy development. Findings show upward trend in average monthly nominal wages and salaries within the sector reflects positive growth in labor compensation, potentially influenced by factors such as rising demand for skilled labor and productivity improvements. Additionally government agencies and international organizations are main drivers of green investments and sustainable development in Azerbaijan.