<p>The article discusses scientific elaborations on renewable energy sources made by national and international economists. The study evaluates the potential of renewable sources available in Uzbekistan from economic viewpoint and analyses the main objectives of the power supply policy of the republic. It also reviews economic aspects of the use of renewable energy sources in Uzbekistan and defines their development trends. A forecast of electricity production in the country has been made based on econometric analysis with an account of GDP factors, gas and coal production. Economic mechanisms for the development of national renewable power engineering have been designed. Findings and recommendations for wider use of renewable sources of energy are presented. </p>