Economic aspects of using energy sources in the energy supply of Azerbaijan

The paper is dedicated to the study of the possibilities of using natural energy sources in Azerbaijan’s energy supply. The potential of alternative energy sources that can be applied in the territory of the Republic has been economically evaluated, the current situation and perspectives of their use have been analyzed, the relevance of the topic in modern life, the main research object and the world of the use of alternative renewable energy sources civilization and the main role in the energy supply of our Republic, as well as the protection of the environment and the regulation of global climate changes, the purpose of using these sources have been explained. The exceptional importance of alternative energy sources for the world economy, the specific characteristics of each of their widely used types and the positive and negative aspects of their application are given, the history of the development of electric energy in our country is reviewed. It is emphasized that the use of alternative energy sources is not a novelty for our country, even renewable energy sources are of industrial importance. It was noted that it is among the first countries to implement its application. A general comment on Azerbaijan’s alternative energy potential was given, and the current state of its use was investigated. For this purpose, the expert evaluation tables of PESTE and SWOT analysis for Azerbaijan’s conditions of alternative energy use were developed. A comparison table of Azerbaijan with countries distinguished by its greater achievements has been drawn up. As a result of the analysis, it was revealed that the current state of using Renewable Energy Sources in our Republic, despite the activation and all the measures implemented in the last eighteen years, the work done in this field is not satisfactory. The measures of our state aimed at the development of this field recently, the new economic policy, joint projects with international organizations, and the future prospects of using RES were informed, recommendations that could be important for the development of the field were given, and a justified explanation was given on which directions our attention should be focused in the future.