Renewable energy is increasingly mobilizing more investment around the globe. However, there has been little attention to evaluating economic and regulatory (E&R) uncertainties, despite their enormous impact on the project cashflows. Consequently, this review analyzes, classifies, and discusses 130 articles dealing with the design of renewable energy projects under E&R uncertainties. After performing a survey and identifying the selected manuscripts, and the few previous reviews on the matter, the following innovative categorization is designed: sources of uncertainty, uncertainty characterization methods, problem formulations, solution methods, and regulatory frameworks. The classification reveals that electricity price is the most considered source of uncertainty, often alone, despite the existence of six other equally influential groups of E&R uncertainties. In addition, real options and optimization arise as the two main approaches researchers use to solve problems in energy system design. Subsequently, the following aspects of interest are discussed in depth: how modeling can be improved, which are the most influential variables, and potential lines of research. Conclusions show the necessity of modeling E&R uncertainties with currently underrepresented methods, suggest several policy recommendations, and encourage the integration of prevailing approaches.

Despite the considerable uncertainty in predicting critical parameters of renewable energy systems, the uncertainty during system design is often marginally addressed and consistently underestimated. Therefore, the resulting designs are fragile, with suboptimal performances when reality deviates significantly from the predicted scenarios. To address this limitation, we propose an antifragile design optimization framework that redefines the indicator to optimize variability and introduces an antifragility indicator. The variability is optimized by favoring upside potential and providing downside protection towards a minimum acceptable performance, while the skewness indicates (anti)fragility. An antifragile design primarily enhances positive outcomes when the uncertainty of the random environment exceeds initial estimations. Hence, it circumvents the issue of underestimating the uncertainty in the operating environment. We applied the methodology to the design of a wind turbine for a community, considering the Levelized Cost Of Electricity (LCOE) as the quantity of interest. The design with optimized variability proves beneficial in 81% of the possible scenarios when compared to the conventional robust design. The antifragile design flourishes (LCOE drops by up to 120%) when the real-world uncertainty is higher than initially estimated in this paper. In conclusion, the framework provides a valid metric for optimizing the variability and detects promising antifragile design alternatives.