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Use of Renewable Energy to Enhance Firm Performance: A Systematic Review

Author

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  • Hendrik Sitompul

    (Department of Business Administration, Faculty of Administrative Science, Brawijaya University, Malang 65145, Indonesia)

  • Muhammad Saifi

    (Department of Business Administration, Faculty of Administrative Science, Brawijaya University, Malang 65145, Indonesia)

  • Benny Hutahayan

    (Department of Business Administration, Faculty of Administrative Science, Brawijaya University, Malang 65145, Indonesia)

  • Sunarti

    (Department of Business Administration, Faculty of Administrative Science, Brawijaya University, Malang 65145, Indonesia)

Abstract

This study employs a Systematic Literature Review (SLR) combined with bibliometric and Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodologies to investigate the factors influencing the use of renewable energy in enhancing firm performance. An analysis of 27 selected articles reveals three key factors: firm innovation, governance, and regulation. The study further emphasizes the benefits of renewable energy adoption across various business performance metrics, including firm profit, financial, logistics, and sustainable performance. The novelty of this paper lies in its comprehensive integration of bibliometrics analysis with PRISMA to bridge gaps in existing literature. It contributes to the field by offering insights into the complex relationship between renewable energy use and firm performance, underscoring the significance of continued investigation to resolve inconsistencies and deepen understanding.

Suggested Citation

  • Hendrik Sitompul & Muhammad Saifi & Benny Hutahayan & Sunarti, 2024. "Use of Renewable Energy to Enhance Firm Performance: A Systematic Review," Sustainability, MDPI, vol. 16(21), pages 1-17, October.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:21:p:9157-:d:1503956
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