A Systematic Literature Review of the Economics of Renewable Energy

This paper overviews economicsof renewable energy with its drivers such as cost, learning curve, demand andsupply. Market power for renewable energy is involved economically withcorrelation between energy supply and demand. Additionally, renewable energyplays an important role in sustainable energy development but renewable energytechnologies are economically very expensive currently so policy tools forrenewable energy are an inevitable necessary to improve economics of renewableenergy. In fact, the figure about the existing market shows that there is animportant relationship between renewable energy resources and growth because renewableenergy sources are a crucial component of economics. Moreover, economics ofrenewable energy with main economics drivers will be analyzed. Therefore thefundamental focus of this paper is to evaluate the potential for reducing the renewableenergy costs. In the literature, there is little economic analysis of renewableenergy so this paper surveys the relative importance of renewable energy driversand reconfigures the renewable energy market with new strategies. This paper eventuallyattempts to review the economics of renewable energy and investigates theframework of essential drivers.