“…Economic and financial barriers of renewables are related to the high initial capital requirements, the lack of financial institutes and investors in RES projects, rarer subsidies, paralleled with fossil fuels, and the price competition between the conventional and renewable energy carriers (Byrnes et al, ; Raza et al, ). Due to the limited efficiency and intermittency of renewable energy plants, RES projects have long payback period and high capital costs (Lyu & Shi, ; Painuly, ). There are fewer financial institutions that are providing loans and financing for the RES projects, and the investments in RES projects are treated as risky, consequently discouraging investments in this field (Ohunakin, Adaramola, Oyewola, & Fagbenle, ).…”