ALTERNATIVE ENERGY PRODUCTION IN NAKHCHIVAN AUTONOMOUS REPUBLIC AND ITS IMPACT ON OVERALL ECONOMIC DEVELOPMENT

Abstract

In the article, approaches to the concept of alternative energy in economic theory from the point of view of economic costs and benefits, the role and importance of the use of alternative energy in the calculation of GDP and green GDP from an economic-ecological accounting point of view, as well as a wide database of information on alternative energy production from various sources, and the potential of alternative energy in the form of an autonomous republic were reviewed. , the current state of its production by types, the level of use of alternative energy sources, the share of alternative energy production in the total energy production and the change in this share were studied. As a result of the research, important proposals were made in the direction of solving problems such as meeting the energy demand of the economy, protecting the environment, facilitating access to energy, as well as energy saving and energy efficiency through the use of renewable energy sources in the conditions of scarcity of resources for traditional energy production, with the volume of alternative energy production in the autonomous republic. An empirical formula of the relationship between GDP was found, and predictions were made based on this.