Investing in the Future: A Systematic Literature Review on Renewable Energy and its Impact on Financial Returns

Abstract

This study aimed to examine the impact of renewable energy on financial returns for organizations. Using the systematic literature review methodology proposed by Kitchenham, 35 papers were shortlisted from the Web of Science database. Descriptive analysis was conducted using Excel and SPSS to examine the total citation by each article, research area, publisher, and publication year. The findings indicated a positive relationship between renewable energy and financial returns, with all papers reviewed supporting this conclusion. Organizations are recommended to invest in renewable energy as it aligns with sustainability goals and contributes to improved financial returns. However, limitations to the available literature highlight the need for further research to understand the full scope of the relationship between renewable energy and financial returns. This study provides important insights into the benefits of renewable energy and its positive impact on financial returns for organizations. Overall, the study contributes to the existing literature on the benefits of renewable energy for organizations looking to reduce costs, increase energy security, and enhance their reputation.

Environment and Digitalization: The New Paradigms in the European Stock Markets

“…The positive relationship linking the dependent variable to carbon emissions should be underlined. This result is also consistent with what is reported in the literature (Adha et al 2023;Boukhelkhal 2022;Godil et al 2021;Odilova et al 2023;Pejović et al 2021;Reshetnikova et al 2023). However, some explanations exist for this phenomenon, such as the carbon-intensive sectors.…”

“…Regarding renewable energy, there is an article by Odilova et al (2023) that improves a systematic literature review on green energy and its impact on the financial return of organizations. Simionescu et al (2020), using a fully modified ordinary least squares methodology, show a positive relationship between economic growth and the use of renewable energies in European countries.…”

Advances in solar pond technology and prospects of efficiency improvement methods

“…These compounds possess properties that align with the requirements of solar pond systems. Their high solubility ensures efficient distribution within the pond, while their ability to enhance density stratification contributes Table 1 Comparative analysis of solar ponds and different renewable energy sources (Allouhi et al, 2022;Ang et al, 2022;Guo & Ringwood, 2021;Karre et al, 2418;Odilova et al, 2023;Owusu & Asumadu-Sarkodie, 2016;Sui et al, 2019;Tursi, 2019;Vargas et al, to the maintenance of thermal stability. Additionally, urea and nitrate of potash offer secondary benefits, such as serving as nutrient sources for aquatic life within the pond, thereby promoting ecosystem health and functionality.…”