Economic development and renewable energy dynamics in the world and Turkey

The development efforts of individuals, socities and nations have existed in every area. Economic development has been a concept that economists have extensively studied and that has undergone continuous change in meaning and content over decades. In the 1950s, development, initially presented as economic growth, was later defined to encompass social and environmental factors in subsequent years. Expanding Turkey's energy needs have town as a result of industry's rapial development during the 1980s. Turkey has insufficient fossil energy resources and is almost 99% foreign dependent on natural gas and oil. When the capacity of renewable energy resources is analyzed using current data, it is seen that the situation is much more positive, the resource utilization in hydraulic energy has improved, but other renewable energy resources are not yet at a sufficient level. Moreover, imported energy resources continue to put pressure on the current account deficit. In addition to its impact on the current account deficit, energy imports also have an impact on production costs, inflation, interest rates and employment. In the light of this information, Turkey's energy situation, fossil and renewable energy situation is detailed using current data. It is seen that Turkey, wich is rich in renewble energy resources, is not yet at the desired level in using these resources, and energy resource imports put a significant pressure on the foreing trade deficit. It is important to increase state supports to solve these problems. Although the continuity of the policies to be implemented is important, it should develop its own Emission Trading System, focus on technology and rapidly develop energy storage systems. Thus, new employment areas can be created in the use of renewable energy resources, imports of fossil energy resources can be reduced, and a reliable economy can be offered to new investors with the support and incentives developed.