Comprehensive technical and economic assessment of competing renewable sources and prospects for green energy development in Vietnam

An analysis of the renewable energy sources potential in Vietnam has shown that the energy balance in the context of energy transition can be transformed and include solar, wind, hydrogenation, as well as biomass energy production. The purpose of the study is to develop a methodological approach to a comprehensive feasibility study of renewable energy sources, considering their competition, and substantiate the prospects for developing low-carbon energy in Vietnam. The subject of the study is various technical, economic, social, and environmental parameters of renewable energy sources. A methodology has been developed for a comprehensive feasibility study of renewable energy sources, including the statistical data collection and analysis, basic technologies analysis, and the hierarchy method for predicting the energy balance structure. It has been established that, according to the technical characteristics, small hydroelectric power plants and biomass-based generation are the most mature and efficient, solar generation is the least expensive and most effective type according to economic indicators, all types of renewable energy are comparable and supported by the public according to environmental criteria, and biomass energy production significantly loses, while other types of generation are comparable. The study results showed the role of renewable energy sources in Vietnam’s energy strategy and priorities in their development in terms of the competitiveness of various types of renewable energy sources. The study results can be used to plan the energy balance structure and select government support measures for the energy sector.

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