Forecast: Total Renewable Energy in Vietnam

Vietnam's renewable energy landscape has experienced fluctuations over the past decade. There was notable growth from 2013 to 2017, peaking in 2017 with an 8.37% year-on-year increase. However, a significant decline occurred in 2018, followed by fluctuating yet generally declining trends through 2023, where the value stood at 17.71 million tonnes of oil equivalent. The last two years showcased minimal decreases, while the last five-year CAGR reflected a negative trend at -4.28%.

Future projections indicate a slight, steady decline with a forecasted 5-year CAGR of -0.21% and an overall 5-year growth rate decrease of -1.03% by 2028. While the market appears stable, innovative and regulatory shifts may alter these trends.

Future Trends to Watch For:

• Technological advancements in renewable energy efficiency and cost-effectiveness.
• Government policies and incentives that support green energy projects.
• Investments in infrastructure and grid modernization to handle renewable energy inputs.
• Increased participation of private sector and foreign investments in Vietnam's renewable energy sector.