Does Renewable Energy affect Electricity Price? An Econometric empirical study?

Does Renewable Energy affect Electricity Price? An Econometric empirical study? Basically, I am asking whether Renewable energy affects the electricity pricing in the U.S. Has the generation of electricity via renewable means (hydro, solar, wind, etc.) had any consequential effects on the pricing of electricity and increased consumer welfare through lower prices. I hypothesize that it increases the prices in the short run but over time decreases it to benefit the consumer. I am attaching some past research papers here.

Data for this study is from the United States Energy Information Administration. The study is on 50 U.S. states and D.C between the period of 1990 and 2019.

This is my model

lnPriceelec = B0 + B1 lnPricei, t-1 + B2 lnRE + B3 lnNRE + B4 lnN + B5 lnPriceNRE + B6 Demand (total sales) + B7Deregulated
where,
Priceelec: Average price of electricity (total electricity industry)
RE: Electricity generated by renewable energy includes solar,
wind, hydropower, biomass, and wood
NRE: Electricity generated by nonrenewable energy includes coal,
petroleum and natural gas
Demand: Annual demand for electricity (total sale is proxy for demand)
Deregulated: States with deregulated electricity industry = 1, regulated = 0
PriceNRE: Annual average price of nonrenewable energy ( coal,
petroleum and natural gas)

My professor has recommended I use Arellano-Bond GMM and fixed effect. The basic skeletal structure is as follows.

i) Introduction
ii) A brief overview of the Electricity Market in U..S
iii) Survey of Literatures (not too old; maybe from 1990 onward)
This will be divided into subsections such as European Studies, Nordic Studies, and U.S. studies
iv) Data and Methodologies
v) Results (with graphs etc.)
vi) Conclusion
and
References

As far as this topic and questions go, there is no study done with U.S. data. This topic has been extensively studied with European data (mainly from Germany, Spain, Netherland, Austria). Couple of study in the U.S. has only focused on Texas. So there is that unique contribution of the paper in the context of the United States.

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