The rapid development of smart renewable energy grids (SREGs) has resulted in a vast amount of data that requires efficient access control and secure mechanisms for sharing energy records among stakeholders. This paper proposes a novel approach called the identity‐based proxy signcryption‐based scheme for SREGs (ID‐PSC‐SREGs), which ensures the secure sharing of energy records in SREGs. The ID‐PSC‐SREG scheme integrates the benefits of signature and encryption techniques, merging them into a unified algorithm and providing a comprehensive solution for the confidentiality and authenticity of energy records. Extensive security analysis demonstrates that the scheme achieves provable security against adaptive chosen ciphertext attacks (IND‐ID‐PSC‐SREG‐CCA2) and existential unforgeability against adaptive chosen message attacks (EUF‐ID‐PSC‐SREG‐CMAs) under the decisional Diffie–Hellman problem. In order to further ascertain the security of the ID‐PSC‐SREG scheme, formal verification utilizing the automated validation of internet security protocols and applications (AVISPAs) is performed. The results confirm the scheme’s safety under the On‐the‐Fly Model‐Checker (OFMC) and Constraint Logic‐based Attack Searcher (CL‐AtSe).