Tkachenko: The role of oil, gas, coal, and shale will begin to decline until it becomes miniscule and insignificant for the economy of the future

PONARS Eurasia
28 May 2020

(Azernews) Azerbaijan has taken 44th position in the Energy Transition Index (ETI) in the Davos Economic Forum's report, showing the highest result among the CIS countries, Trend reports.

The report takes into account the main criteria for creating safe, sustainable, affordable and inclusive energy systems for future generations and provides for the transition to renewable, alternative energy systems. [...]

Natural opportunities of Azerbaijan attract the attention of foreign investors. In general, the potential capacity of alternative energy in the country is 26,940 megawatts, with 90 percent of it being solar energy.

Stanislav Tkachenko, Doctor of Economics, Professor of St. Petersburg State University (SPBU) says the concept of alternative energy sources is very broad. Among them, the most prominent role is played by solar energy, wind energy, biomass energy, tidal and geothermal energy.

"What unites all these different sources of energy is that they are renewable, i.e. essentially endless. And their use does not have such a negative impact on nature as traditional sources have,” Tkachenko said. [...]

Read More © Azernews