Abstract
In the context of the global energy transition, Vietnam experienced rapid growth in renewable energy, particularly between 2017 and 2021 under the feed-in tariff (FIT) mechanism. However, this expansion also generated several challenges, including grid congestion, power curtailment, and strong dependence on policy incentives. This study evaluates Vietnam’s renewable energy development policies through a multi-criteria framework encompassing capacity expansion, system efficiency, and institutional sustainability. The findings indicate that although these policies were effective in stimulating renewable energy capacity growth, they did not generate corresponding improvements in system efficiency or institutional sustainability. Based on these findings, the study identifies policy implications for improving policy design and enhancing the long-term effectiveness and sustainability of renewable energy development in Vietnam.
