RELATIONSHIP BETWEEN USE OF RENEWABLE ENERGY SOURCES AND ECONOMIC EFFICIENCY

Abstract

The world’s energy production is mainly provided by thermal power plants, hydroelectric power plants and nuclear power plants. The rapid consumption of fossil fuels and the release of greenhouse gases into the atmosphere cause global warming, and therefore not only an energy crisis; This also creates an environmental crisis. For this reason, transition to the use of renewable energy has become mandatory in recent years.

The article examines the relationship between the use of renewable energy sources and economic efficiency. Also, to determine the impact of the use of renewable energy on economic efficiency in Kazakhstan. A statistical comparability study between 2015-2023 is included. It was found that there is a unidirectional causal relationship between the use of renewable energy and economic efficiency. The most important initiative to increase the impact of the use of renewable energy is to shift the energy policy to the domestic and renewable energy sector with new technologies. Kazakhstan is an initiator of the potential of renewable energy resources. For this reason, renewable energy production should be used in the most effective way in the sustainable development of Kazakhstan.