Unpacking Energy Efficiency and Conservation Policies: A Multi‐Method Analysis of Effectiveness, Drivers, and Where We Are Headed

The emergence of diverse viewpoints around energy efficiency and conservation (EE&C) policy literature has necessitated organizing the knowledge structure of the domain. This study first employs complementary methodologies like bibliometrics and content analysis, and 1,750 research papers published till December 2023 were identified from the Web of Science (WOS) database. To overcome the limitation of bibliometrics, a supplementary analysis of the literature published between 2020 and 2024 was also performed. The findings were also validated with a qualitative follow‐up with 20 managers and practitioners with expertise in developing and implementing EE&C policies to critically analyze the EE&C policy literature. Based on the content analysis, the knowledge structure of the domain was developed comprising these themes: rebound effect, energy paradox, eco‐labels, tradeable energy saving certificates, psychosocial, and behavioral factors influencing the effectiveness of the policy instruments. Subsequently, a conceptual framework was proposed, which illustrates a step‐by‐step approach and can be helpful for managers and policymakers in designing EE&C policy instruments and evaluating their potential effectiveness. Finally, it contributes towards theory building by applying institutional theory as a theoretical underpinning for examining how social, regulatory, and normative pressures shape organizational and individual behavior concerning the EE&C policy instruments. The collation of review studies and identification of theme‐wise research gaps can help researchers in systematically exploring the research frontiers for the orderly development of the domain.