ABSTRACT
The primary goal of the current research is to investigate the relationship between economic development and renewable energy (RE) resources as well as the adoption of Industry 4.0 for newly industrialized emerging nations. RE promotes the beneficial sides of conventional energy security, mitigation of climate change, and job creation. The impact of RE on employment is generally disputed. Hence, the influence of RE on economic growth, GDP, and employment is presented in this chapter. This chapter includes all the detailed analyses and information made by the project developers of renewable energy and policymakers for the successful dissemination of renewable energy policies. Renewable energy sources provide developing countries enormous possibilities for implementing their Industry 4.0 strategy. This chapter also highlights the difficulties that developing nations have in adopting Industry 4.0, as opposed to the enormous potential of energy from renewable sources. Issues discussed in this chapter conclude that incentive promotional policies and subsidies prove to be significantly vital factors that play an essential role in the improvement of RE use. Researchers and decision-makers will also benefit from this chapter’s implementation of Industry 4.0 in developing countries.
