In the context of increasing environmental challenges and limitations of traditional energy resources, the development of energy innovations becomes a key factor in transitioning to a circular economy. This research is dedicated to examining the implementation of energy innovations by countries worldwide in the pursuit of Sustainable Development Goals. The transition to a circular economy requires a comprehensive understanding of the organizational and economic support for energy innovations, including ecological, technical, and socio-financial determinants of societal development. In this context, the advancement of energy innovations plays a crucial role in forming a sustainable economic system within its circulation. The research methodology includes bibliometric analysis to identify knowledge clusters regarding energy innovations. The economic indicators of energy innovations across different countries were analyzed. The impact of innovation and research and development (R&D) on the development of renewable energy was conducted. The insights were elaborated for the transition to a circular economy using a scenario-based approach. These insights outline the development trajectory of energy innovations in the context of a circular economy while considering ecological, technical, social, and economic challenges. Finally, the study provides a roadmap for implementing energy innovations in the context of economic decarbonization and the transition to a circular model while ensuring the achievement of the Sustainable Development Goals.