The different types of renewable energy finance: A Bibliometric analysis

Abstract

This article surveys the academic research dedicated to the different types of renewable energy finance. We conduct a bibliometric analysis based on the widely used database Web of Science, covering the period of 1992 to 2018. We generate a bottom-up clustering of academic articles using network analysis tools, leading us to identify 8 main clusters of publications defined by their focus on specific types of finance and their geographical and technological scope. Our main line of research is to observe the discrepancy between the importance of the funding modes in reality and their share in the literature. The critical appraisal of our results highlights that the literature does not reflect the diversity of renewable energy finance. Most studies focus on market-based policy instruments used to support renewable energy development in developed countries. Conversely, few studies of direct financing flows from the public and private sectors were found, while private sources provide an important part of renewable energy investment globally. Furthermore, the literature generally focuses on mature renewable electricity technologies (solar and wind). Our dynamic analysis reveals that private investment is an emerging subject. Overall, our result reveals significant room for development of the field.