An evaluation of public incentives for renewable energy between 1992-2020

Renewable energy has been presented by the international area as a solution to the energy crises that arise due to the increase in energy demand and to the global warming and climate change due to the carbon emissions caused by energy use. Then, most countries started to implement incentive policies to increase and deploy renewable energy production. However, despite all the practices and discourses, the rate of renewable energy production does not meet the expectations. In this thesis, it has conveyed the historical development of renewable energy in terms of international policies and the effect of the renewable energy policies of developed countries on the policy making process of other countries and renewable energy policies in terms of public choice theory will be discussed. In the panel data analysis conducted for 33 countries between 1992-2020, incentive policies did not have a positive effect on the growth rate of renewable energy.