Author(s):
1. Isak Karabegović, Tehnički fakultet u Bihaću, Federation of Bosnia and Herzegovina , Bosnia and Herzegovina

Abstract:
In a time marked by climate change and the depletion of natural resources, solar energy is increasingly recognized as a key driver of sustainable development. This paper analyzes the role of solar energy in the energy transition, focusing on its technical capabilities, economic benefits, and potential for job creation. Furthermore, it explores how the synergy between technological advancement and market mechanisms can accelerate the replacement of fossil fuels and contribute to the reduction of greenhouse gas emissions. The technical section outlines recent progress in photovoltaic technologies, improvements in solar panel efficiency, cost reductions in production, and the role of smart grids in integrating renewable sources into the energy system. Through an analysis of market trends, the importance of investments in renewable energy, subsidy mechanisms, tax incentives, and public-private partnerships in expanding solar capacity is emphasized. From an economic perspective, the paper explores the potential of the solar industry to create jobs—ranging from manufacturing and installation to maintenance and research. Utilizing available statistical data and models, the study demonstrates that investments in the solar sector yield multiple benefits: energy sovereignty, reduced dependence on fossil fuel imports, and the creation of new economic opportunities in both rural and urban areas. Case studies from countries that have successfully implemented solar strategies (e.g., Germany, Spain, and India) highlight key success factors and foreseeable obstacles that can be addressed proactively. Special attention is given to the role of public policy and regulatory frameworks that support the faster integration of solar energy, as well as the need for education and workforce retraining in accordance with the demands of the new energy paradigm. The paper concludes that synchronized efforts between technological development and market instruments are essential for accelerating the green transition. Solar energy, as a clean, renewable, and increasingly accessible resource, has the potential not only to replace fossil fuels but also to become a foundation for economic resilience and social equity in a post-carbon society.

Key words:
energy transition,solar energy,sustainable development,green jobs,market mechanisms,emission reduction

Thematic field:
SYMPOSIUM D - Environmental and sustainable materials

Date of abstract submission:
27.05.2025.

Conference:
Contemporary Materials 2025 - Savremeni Materijali

Applied paper from author