This study aims to analyse the literature on the economic performance of Renewable Energy Communities (RECs). Specifically, the objective of this work is to identify how existing research assesses REC profitability and to shed light on whether they represent financially viable investment vehicles. The distribution mechanisms employed to allocate economic benefits among REC participants are also investigated. To address these questions, a systematic literature review was conducted following the PRISMA 2020 guidelines, based on a search of the Scopus database. A final sample of 40 peer-reviewed articles published between 2018 and 2026 was analysed. The findings show that capital budgeting tools, such as NPV, IRR, and Payback Period, are the most widely adopted instruments for assessing REC economic performance. The empirical evidence suggests that RECs generally represent profitable investments capable of generating positive returns. Italy emerges as the most extensively studied context, notably in the residential sector, driven by a robust incentive system that has proven decisive in sustaining profitability. Indeed, economic performance tends to deteriorate and NPV can turn negative where regulatory support is insufficiently developed. Furthermore, photovoltaic technology emerges as the primary renewable energy source, while alternative configurations show potential but remain financially constrained by high CAPEX. Public and private involvement consistently generates positive economic outcomes by leveraging the complementarity of energy demand profiles. Regarding benefit distribution, a delicate balance exists between prosumers and consumers that can lead to participant dropout when allocation mechanisms prove ineffective. Minimum return guarantees, fairness-based criteria, and technology-driven tools have been shown to improve distributional outcomes and community stability. This study adds to the existing literature by providing systematic evidence on the key drivers of REC profitability and benefit distribution, while stimulating future research to further examine RECs through a corporate finance lens. The insights suggest that participation by private citizens, SMEs, and public administrations represents both an economically sustainable choice and a positive contribution to the energy transition. At the same time, this study offers practical implications for policymakers, identifying incentive system as a key driver of REC development, and for REC managers, highlighting the role of advanced benefit distribution systems in preserving community cohesion.