A systematic literature review of crowdfunding in renewable energy

Abhishek Mukherjee, Paul Griffiths (), Paresha Sinha and Sahil Deol
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Abhishek Mukherjee: University of Waikato [Hamilton]
Paul Griffiths: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Paresha Sinha: University of Waikato [Hamilton]
Sahil Deol: University of Waikato [Hamilton]

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Abstract: This systematic literature review examines the existing research on crowdfunding for renewable energy (RE) projects, with the purpose of identifying the factors that influence the need and the success of such crowdfunding campaigns, and the findings discuss the potential role of the public sector, and offer future research directions. The review synthesizes and analyses findings from 33 peer‐reviewed articles published between 2016 and 2023 in leading journals like the Journal of Cleaner Production , Energy Economics , and Journal of Business Research . The results show that crowdfunding can be an effective source of financing for RE projects, particularly in developing countries where traditional financing options are limited. The review identifies financial characteristics, communication and marketing strategies, media coverage, project category, and message framing as key factors that influence the success of crowdfunding campaigns for RE projects. The potential role of the public sector in supporting crowdfunding is also discussed, including creating an enabling environment, providing funding and technical assistance, promoting the benefits of RE and crowdfunding, addressing regulatory and information barriers, and collaborating with other stakeholders. Finally, the review identifies compelling areas for future research.

Date: 2023-06-01
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Published in International Conference on Alternative Finance Research, University of Agder's Crowdfunding Research Center, Jun 2023, Gdansk, Poland

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04958930

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