In the European policy debate, Tradable Green Certificates (TGC) system has been considered as a superior support scheme to stimulate investments in Electricity from Renewable Energy Sources (RES-E). The TGC system even had been suggested as an option for a harmonized support scheme for the European electricity industry.
At present, after more than a decade of having TGC systems in the European electricity sectors, several countries including Sweden and Norway, are reevaluating their TGC system. In this reevaluation process, scholarly articles can contribute to the knowledge for policymakers on the current outcomes and consequences of TGC systems in different European countries. Nevertheless, how did researchers examine outcomes of the TGC system relating to investments in RES-E?
In order to address this, we conduct an extensive and systematic literature review based on the Web of Science database. Our review reveals the topics that have been investigated intensively. However, our results also indicate other important key topics and issues, as outcomes of the TGC system that have been neglected. Specifically, our results show that economy of investments as an outcome of the TGC system has been studied intensively. However, there is less research available on societal consequences of the TGC system, for example in which way a TGC system has influenced different group of potential RES-E investors. Recent literature identifies RES-E investors as heterogeneous groups of actors with different industrial backgrounds and motives. This heterogeneity has a message behind that has not been investigated in studies on TGC schemes. Our findings create several intriguing opportunities for future research.