Abstract
The growth of renewable energy actively takes part in decarbonizing the fossil-fuel-based energy system. It reduces carbon emissions, carbon footprint, and greenhouse gas emissions and increases clean energy. The usage of renewable resources reduces and solves several problems, such as increasing temperature, carbon footprint, greenhouse gas emissions, and energy waste. Every sector contributes to increasing the above-mentioned factors in the environment. One of the main reasons for this biodegradation and climate change is energy resources. Using renewable energy instead of fossil fuel can solve the problem. This paper aims to find open research problems about the application of renewable energy and to initiate new innovative ideas regarding renewable energy. A detailed state of the art includes trends for renewable energy resources, their theoretical evolution, and practical implementations. Methodologies used for decision analysis in renewable energy are discussed in detail. The time frame for this analysis of renewable energy is 2010 to >2022. An extensive literature review finds a huge research scope in applying renewable energy in other research, such as logistics, smart production management, and advanced inventory management. Then, major changes in the profit/cost of that system due to renewable energy can be analyzed. This research proposes some innovative new ideas related cost formulas for renewable energy for the corresponding open problems.