As the topic of sustainable development continues to prominence in global affairs, the case for renewable energy has never been stronger. To be regarded as a perfect alternative to conventional (non-renewable) energy sources in many climes, renewable energy, such as solar and wind, shows promise when considering concepts like grid parity. A significant number of studies have been devoted to understanding the concept. However, only a few studies have committed themselves to analysing the research activity carried out on it. This paper will present a bibliometric and empirical review of worldwide grid parity, energy transition, and electricity cost research. To situate the progress in this research area, a detailed search of Scopus was used to identify and situate research development in the field from 1965 until 2021. Using the data extracted from Scopus and VOSviewer for analysis, we explore different aspects of the publications, such as the volume, growth rate, and coverage of published documents, the most influential research papers and journals in this research area, and the most studied research themes in recent years. We also discuss Governmental policies in developed and developing economies that have accelerated the attainment of Grid parity in certain countries. Also, an empirical review of top-down, bottom-up, and artificial neural network approaches to evaluating grid parity was conducted. The study revealed a steady increase in the research articles focused on grid parity, energy transition, and electricity cost research from 2006. The geographic distribution of the publications shows that most of the publications on the subject originated from the USA, Germany, China, United Kingdom, and Spain, raking in 42.2% of the publications. Also, the top 7 authors with the highest document count from Scopus are from Finland, which coincidentally is one of the countries making significant progress in Grid parity attainment. Of the total document count from Scopus, only 0.02% are papers published from African Countries. Could this reluctance to publish research findings on energy transition be one of the reasons for the slow progression of sustainable energy for all in Africa? Therefore, it is imperative now more than ever for more research focusing on the attainment of grid parity, energy transition, and electricity costs for developing countries to be brought to the fore. This article provides a review of state-of-the-art research on the attainment of grid parity and energy transition with a focus on the Levelized Cost of Electricity (LCOE) models of renewable energy sources.
Keywords: Energy generation; Grid parity; Levelized cost of electricity; Renewable energy sources; Sustainability; Sustainability development goals.
© 2023 The Authors.