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Renewable energy and financial development: a systematic mapping review

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  • El Hamzaoui Omar
  • Kharbouch Omar

Abstract

Financial development in the renewable energy sector assumes critical importance, particularly amid the ongoing energy transition driven by climate challenges. Developed countries highly and positively interact with energy growth projects that focus on environmental sustainability. This systematic mapping review examines various articles and studies from diverse academic databases, which focus on the relationship between renewable energy and financial development. It relies on an analytical approach that adopts a particular classification system to examine 59 studies conducted between 2011 and 2024 using tools such as PRISMA protocol, VOSviewer and Nvivo. The result of this systematic mapping review highlights vital trends reflecting the utilisation of interesting econometric models conducted across different geographical contexts. Three major thematic axes emerge from the existing literature: first, environmental and climate concerns; second, the rise of sustainable and green finance; third, the role of macroeconomic aggregates in financial dynamics. This mapping review adds a considerable value to the existing literature through recommending a future research agenda to explore further mechanisms that interact with renewable energy.

Suggested Citation

  • El Hamzaoui Omar & Kharbouch Omar, 2026. "Renewable energy and financial development: a systematic mapping review," International Journal of Energy Technology and Policy, Inderscience Enterprises Ltd, vol. 21(1), pages 1-28.
    • Handle: RePEc:ids:ijetpo:v:21:y:2026:i:1:p:1-28
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