Introduction: With the economic growth rate and increasing energy consumption every year in Vietnam (in 2024, total electricity consumption increased by 13%, equivalent to 10.47 thousand MW compared to 2023), the country is forecasted to have an annual electricity consumption of 441.12 thousand MW by 2050. Background Problems: Electricity supply sources differ in key factors affecting their competitiveness, such as technical, economic, environmental, social, and legislative factors. These factors can influence the decisions of the government and investors. Novelty: Analyzing the current market situation allows the study to identify the main barriers and opportunities for allocating investments in different renewable energy sources. Research Methods: The paper uses data collection and analysis methods from questionnaires, then applies the AHP (Analytic Hierarchy Process) for analysis. Results: This study has summarized the situation of renewable energy production and consumption in developed and developing countries around the world and evaluated the competitiveness of renewable energy sources in Vietnam. Conclusion: Based on the findings, the study presents specific results on the competitiveness of green energy sources in Vietnam today, with solar power leading at 37.95%, followed by wind power (35.15%), hydropower (17.56%), and biomass (12.34%).

JEL Codes: Q42, Q48, O13

Keywords: Renewable energy sources, energy conversion, hierarchy analysis, sustainable development, sustainability goals, energy consumption.