ECONOMIC GROWTH AND ALTERNATIVE ENERGY: INTERRELATION AND CONTRADICTIONS

Economic growth is a goal that any government strives for. Firstly, it ensures the stability of the state, and secondly, it allows the population to feel more confident in social and economic terms. Many scientists have wondered how to ensure the sustainability of domestic growth which is impossible without a strong economy, because all spheres of society depend on it in one way or another. In modern realities, growth is largely provided by minerals that are used in various sectors of the economy, but they are mainly used for energy production. At the same time, states are increasingly trying to replace classical fossil resources with renewable ones. The use of alternative energy is becoming more and more relevant. The significance of the topic lies not only in the environmental aspect, but also in the problem of the exhaustion of the traditional fossil fuels. The article examines the trends in the development of renewable energy sources. The influence of alternative energy on economic growth is considered. The problems faced by states actively using renewable resources for energy production are studied. The efficiency of energy production from traditional fossil fuels and from alternative sources is compared. The prospects for the development of the alternative energy market are analyzed. The article identifies the main risks of a premature transition to “green” energy, identifies the threats of hasty abandonment of traditional energy sources. Specific successful solutions in the field of renewable resources are considered. The article also pays great attention to the modern energy policy of the leading countries, examines the most successful states in the “green” transition.

economic growth, alternative energy, renewable resources, wind turbines, solar panels, electricity, hydropower, minerals, oil, natural gas, coal, power station

Khudokormov G. A. Economic growth and alternative energy: interrelation and contradictions. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;2(63):30—35. DOI: 10.25683/VOLBI.2023.63.592