Author: Agnieszka Wójcik-Czerniawska (Warsaw School of Economics (SGH)) - In this study, we looked at the financial market physical response to the growth of renewable energy. We collected information for the secondary research on both developed and emerging economies from a large number of websites, publications, research papers, and reports. The outcomes of the study recommend that the growth of financial institutions, particularly banks, was the primary factor responsible for renewable energy's considerable macroeconomic benefits to the financial sector. Based on evaluating national variability, financial growth was established to have a beneficial influence on the implementation of renewable energy within established economies, but only for financial institutions in relatively less developed nations. We urge lawmakers to ensure that renewable energy firms in developing nations have access to a secure financial system and to consider the benefits of financial development when establishing regulations pertaining to renewable energy.
