Forecast: Renewable Electricity in Vietnam

The renewable electricity production in Vietnam experienced significant fluctuations from 2013 to 2023. After an initial stable phase, there were periods of sharp decline (2015, 2019) and moderate recovery (2016, 2020). By 2023, production stood at 33.02 units. The year-on-year variations over the past two years show reductions of -2.34% in 2022 and -2.37% in 2023. Over the last five years, the compound annual growth rate (CAGR) reflected a downward trend at -3.35%.

Forecasts from 2024 to 2028 indicate a continued decline in renewable electricity production, with an estimated 5-year CAGR of -2.04%, resulting in a total decrease of about -9.78% by 2028. This slow yet steady reduction points to a need for strategic interventions to reverse the trend.

Future trends to watch for:

• Government policies supporting renewable energy investments.
• Technological advancements improving production efficiency.
• Influence of global energy market trends and sustainability commitments.