“Green” economy as a new type of development: situation and future of the Republic of Kazakhstan

Abstract

The article analyzes the features of the development of the “green” economy in Kazakhstan. Kazakhstan's energy sector needs deep modernization to meet growing energy needs and solve environmental problems, as the progress is hampered by outdated technologies. The capabilities of wind energy and traditional energy sources were compared. The authors have argued that the key factor in using “green” business in Kazakhstan is the need to reduce the negative impact of energy on the environment. This study confirms that renewable energy sources are a cost-effective and environmentally friendly alternative to fossil fuels. Currently, the specific capital investments required for the construction of renewable energy facilities are equivalent to those required for traditional energy. However, there is a noticeable trend of increasing financial costs for equipment for traditional energy and decreasing for alternative energy. It is clear, that the sustainable development requires government support. Including renewable energy sources in a competitive energy market has a great value and importance. From an economic point of view, alternative energy sources are currently more cost-effective than traditional ones. From an environmental perspective, the competitiveness of renewable energy sources is affected by increasing pollution and waste disposal costs associated with nuclear power. Furthermore, from a political point of view, a country's energy potential directly affects its economic potential, so the development of alternative energy strengthens both political independence and national security.