OVERVIEW OF ACCESS TO FINANCING FOR ENERGY EFFICIENCY AND SOLAR ENERGY TECHNOLOGIES FOR SMES IN GEORGIA

Small and Medium Enterprises (SMEs) play a pivotal role in the sustainable development of the economy. The implementation of energy efficiency and solar energy technologies not only reduces operational costs but also contributes to environmental and economic sustainability. Access to financing for integrating these technologies presents several challenges. This research aims to examine the current state of financing for energy efficiency and solar energy technology implementation for SMEs in Georgia and to develop recommendations for stimulating mechanisms in this direction. To achieve the study's objectives, a mixed-methods approach was adopted. The qualitative research included desk research on foreign and Georgian publications, as well as legislative and policy documents related to energy efficiency and solar energy investments. The quantitative research involved structured interviews with top management of Georgian banks and field professionals. Additionally, a survey was conducted among government organizations, industry associations, and companies utilizing solar power plants. This also included in-depth group interviews with solar power system installers to identify challenges in implementing these technologies for SMEs. The research analyzed the barriers and opportunities for SME financing, developed recommendations for necessary reforms to support relevant government agencies, and aimed to enhance the activities of international financial and specialized organizations, as well as commercial banks, in promoting investments and financing in energy efficiency and solar energy projects for SMEs.