<p>Recently, the urge for renewable energy technologies has risen drastically as it emerges as a solution to severe environmental concerns such as global climate change, biodiversity loss, widespread pollution, and depletion of non-renewable resources. However, non-renewable resources serve as the backbone of global industrialization as they provide the essential energy and raw materials. But, their incessant consumption has posed a threat to the survival and stability of our ecosystems. Renewable energy technologies (RETs) also have the potential to achieve energy independence along with sustainable development. Despite receiving substantial financial support, their adoption has stagnated due to certain factors. This study seeks to navigate the impact of consumer-oriented incentives on the market penetration of RETs through a non-linear mathematical model. The long-term behavior of the proposed model is analyzed by the stability theory of the non-linear systems. The study also incorporates the possibility of discontinuation of RETs by the adopters. The model is further improved by introducing time lag and survival probability in the process of discontinuation. To achieve more cost-efficient strategies, we have employed optimal control theory. Moreover, comprehensive numerical simulations are also conducted to justify and illustrate analytical findings.</p>