Policy strategies for the promotion of electricity from renewable energy sources differ significantly among the Member States of the European Union with respect to the amount of additional installed capacity as well as concerning the country-specific support costs. The present report aims to assess the effectiveness and the economic efficiency of the support policies in the EU based on both historical experiences and prospective model-based analysis. The main message of the investigation is that the most effective policy instruments tend to be cost-efficient at the same time. In particular, feed-in tariff systems were identified as a successful instrument for supporting renewable energies in terms of effectiveness and efficiency, whereas quota systems still have to prove themselves in practice.