ENERGY SECURITY AND INNOVATION IN RENEWABLE ENERGY SOURCES WITH REFERENCE TO BOSNIA AND HERZEGOVINA

European University Brčko District, Bosnia and Herzegovina
Bosnia and Herzegovina

The College of Service Business – Sokolac, Republic of Srpska, Bosnia and Herzegovina
Bosnia and Herzegovina


Abstract

Energy security represents one of the key development issues of modern states, particularly in the context of climate change, geopolitical instability, and disruptions in global energy markets. The subject of this paper is the analysis of the relationship between energy security and innovation in renewable energy sources, with special reference to Bosnia and Herzegovina. The aim of the paper is to examine the extent to which technological and institutional innovations in the renewable energy sector can contribute to a more stable, sustainable, and economically viable energy system in Bosnia and Herzegovina. Three key hypotheses are proposed. The first hypothesis assumes that increased investment in renewable energy sources directly contributes to strengthening energy security. The second hypothesis suggests that regulatory and institutional reforms have a decisive impact on the efficiency of innovation implementation. The third hypothesis is based on the claim that Bosnia and Herzegovina possesses significant, yet insufficiently utilized, renewable energy potentials. The paper applies the methods of analysis and synthesis, a comparative method, analysis of available statistical data, as well as a review of relevant professional and scientific literature. The results indicate that the energy transition in Bosnia and Herzegovina requires a systemic approach, strategic planning, and stronger support for innovation in order to ensure the long-term stability of the energy sector. It is further concluded that the long-term stability of the energy system depends on the ability of states to integrate innovation, develop flexible infrastructure, and provide a stable regulatory framework.

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