The transition from fossil fuels to renewable energy sources is a priority worldwide, considering the rising demand and consumption of electricity. Governments are implementing policies to disseminate clean energy generation in response to such demand. The article attempts to analyze significant renewable energy policies followed by several leading countries in the RE sector and measure the effectiveness of such policies, namely the United States, India, Australia and China. A variety of policy instruments have been introduced, including tradable emission rights, taxes, subsidies and laws for renewable energy generation. The research proposed some policy recommendations to constitute an effective renewable energy strategy.