An efficient use of energy is the pre-condition for economic development. But excessive use of fossil fuel harms the environment. As renewable energy emits no or low greenhouse gases, more countries are trying to increase the use of energies from renewable sources. At the same time, no matter developed or developing, nations have to maintain economic growth. By collecting SCI/SSCI indexed peer-reviewed journal articles, this article systematically reviews the consumption nexus of renewable energy and economic growth. A total of 46 articles have been reviewed following the PRISMA guidelines from 2010 to 2021. Our review research shows that renewable energy does not hinder economic growth for both developing and developed countries, whereas, there is little significance of consuming renewable energy (threshold level) on economic growth for developed countries.

Global electricity demand is constantly growing, making the utilization of solar and wind energy sources, which also reduces negative environmental effects, more and more important. These variable energy sources have an increasing role in the global energy mix, including generating capacity. Therefore, the need for energy storage in electricity networks is becoming increasingly important. This paper presents the challenges of European variable renewable energy integration in terms of the power capacity and energy capacity of stationary storage technologies. In this research, the sustainable transition, distributed generation, and global climate action scenarios of the European Network of Transmission System Operators for 2040 were examined. The article introduces and explains the feasibility of the European variable renewable energy electricity generation targets and the theoretical maximum related to the 2040 scenarios. It also explains the determination of the storage fractions and power capacity in a new context. The aim is to clarify whether it is possible to achieve the European variable renewable energy integration targets considering the technology-specific storage aspects. According to the results, energy storage market developments and regulations which motivate the increased use of stationary energy storage systems are of great importance for a successful European solar and wind energy integration. The paper also proves that not only the energy capacity but also the power capacity of storage systems is a key factor for the effective integration of variable renewable energy sources.

Solar energy has an increasing role in the global energy mix. The need for flexible storage photovoltaic systems and energy storage in electricity networks is becoming increasingly important as more generating capacity uses solar and wind energy. This paper is a study on the economic questions related to flexible storage photovoltaic systems of household size in 2018. The aim is to clarify whether it is possible in the European Union to achieve a payback of the costs of flexible storage photovoltaic system investments for residential customers considering the technology-specific storage aspects prevalent in 2018. We studied seven different flexible storage photovoltaic investments with different battery technologies in Germany, France, Italy, and Spain because, in Europe, these countries have a prominent role with regard to the spread of photovoltaic technology. These investment alternatives are studied with the help of economic indicators for the different cases of the selected countries. At the end of our paper we come to the conclusion that an investment of a flexible storage photovoltaic (PV) system with Olivine-type-LiFePO₄, Lithium-Ion, Vented lead-acid battery (OPzS), Sealed lead-acid battery (OPzV), and Aqueous Hybrid Ion (AHI) batteries can have a positive net present value due to the high electricity prices in Germany and in Spain. The most cost-effective technology was the Olivine-type-LiFePO₄ and the Lithium-Ion at the time of the study. We suggest the provision of governmental support and uniform European modifications to the regulatory framework, especially concerning grid fees and tariffs, which would be necessary in the beginning to help to introduce these flexible storage PV systems to the market.

The energy demand of mankind is constantly growing, thus the utilization of various renewable energy sources, which also reduces negative environmental effects, is becoming more and more important. Because of the achievement of climate protection targets, photovoltaic (PV) energy has an increasing role in the global energy mix. This paper presents the technical and economic aspects of different photovoltaic system configurations designed to suit the Hungarian renewable energy regulations. In this study, five alternative PV configurations were examined for systems with a capacity from 50 kW to 500 kW, related to low- and medium-voltage installations. This article also introduces and explains the Hungarian economic PV and Feed-in-Tariff (FiT) regulations, where three different investment alternatives are analyzed with the help of economic indicators. This study could help stakeholders in the market (e.g., the Hungarian industry sector and local governments) understand the possible directions of technical and economic PV development. According to the results, the payback periods in all the studied economic-technical cases were below 10 years. The experimental results show that each investment option may be a good decision from an economic and technical point of view under the Hungarian regulations in force in 2019.