Transitioning to a green economy is a global concern, considered a pathway to sustainable development. This paper aims to investigate the effect of the transition into a green economy on Vietnam’s sustainable development and its two economic and environmental dimensions, with consideration of several essential issues including renewable energy, technological innovation, natural resource rents (oils, forest, and minerals), foreign direct investment, and trade. This paper utilizes data from 1996 to 2020 and then applies the autoregressive distributed lag (ARDL) method for analysis. The results conclude that renewable energy is a driving key to reducing environmental degradation, but it hampers economic growth, while the contrast occurs with technology. Our results emphasize the dependence on non-renewable energy, whereas the innovation of technology does not show a green orientation in Vietnam. Furthermore, there is a lack of sustainability in the effect of natural resource rents, foreign direct investment, and trade. Overall, the transition into a green economy in Vietnam does not illustrate the sustainable orientation. The findings of this research provide empirical evidence to clarify the relationship between this transition and its driving factor, with sustainable development and the two economic environment dimensions. In addition, this study will bring worthwhile implications for the policymakers and scholars on whether the transition to a green economy fulfills the orientation towards sustainability, then enhancing the economy's efficiency to achieve green growth, following the pathway to sustainable development.

This research explores the implementation of streamlined licensing frameworks and consolidated procedures for promoting renewable energy generation worldwide. An in-depth analysis of the challenges faced by renewable energy developers and the corresponding solutions was identified through a series of industry interviews. The study aims to shed light on the key barriers encountered during project development and implementation, as well as the strategies employed to overcome these obstacles. By conducting interviews with professionals from the renewable energy sector, the research uncovers a range of common challenges, including complex permitting processes, regulatory uncertainties, grid integration issues, and financial barriers. These challenges often lead to project delays, increased costs, and limited investment opportunities, thereby hindering the growth of renewable energy generation. However, the interviews also reveal various solutions and best practices employed by industry stakeholders to address these challenges effectively. These solutions encompass the implementation of streamlined licensing procedures, such as single licenses and one-stop services, to simplify and expedite the permitting process. Additionally, the development of clear and stable regulatory frameworks, collaboration between public and private entities, and improved grid infrastructure were identified as key strategies to overcome regulatory and grid integration challenges. The research findings highlight the importance of collaborative efforts between policymakers, industry players, and other relevant stakeholders to create an enabling environment for renewable energy development. By incorporating the identified solutions and best practices, policymakers can streamline regulatory processes, foster public-private partnerships, and enhance grid infrastructure, thus catalyzing the growth of renewable energy projects.

The challenge of rural electrification has become more challenging today than ever before. Grid-connected and off-grid microgrid systems are playing a very important role in this problem. Examining each component’s ideal size, facility system reactions, and other microgrid analyses, this paper proposes the design and implementation of an off-grid hybrid microgrid in Chittagong and Faridpur with various load dispatch strategies. The hybrid microgrids with a load of 23.31 kW and the following five dispatch algorithms have been optimized: (i) load following, (ii) HOMER predictive, (iii) combined dispatch, (iv) generator order, and (v) cycle charging dispatch approach. The proposed microgrids have been optimized to reduce the net present cost, CO₂ emissions, and levelized cost of energy. All five dispatch strategies for the two microgrids have been analyzed in HOMER Pro. Power system reactions and feasibility analyses of microgrids have been performed using ETAP simulation software. For both the considered locations, the results propound that load-following is the outperforming approach, which has the lowest energy cost of $0.1728/kWh, operational cost of $2944.13, present cost of $127,528.10, and CO₂ emission of 2746 kg/year for the Chittagong microgrid and the lowest energy cost of $0.2030/kWh, operating cost of $3530.34, present cost of 149,287.30, and CO₂ emission of 3256 kg/year for the Faridpur microgrid with a steady reaction of the power system.

The conversion of the energy supply to renewable sources (wind, photovoltaics) will increase the volatility in electricity generation in the future. In order to ensure a balanced power balance in the power grid, storage is required - not only for a short time, but also seasonally. The bidirectional coupling of existing energy infrastructure with the power grid can help here by using the electricity in electrolysis systems to produce hydrogen. The hydrogen can be mixed with natural gas in the existing infrastructure (gas storage, pipelines) to a limited extent or converted directly to methane in a gas-catalytic reaction, methanation, with carbon dioxide and/or carbon monoxide. By using the natural gas infrastructure, the electricity grids are relieved and renewable energies can also be stored over long periods of time. Another advantage of this technology, known as “Power-to-Gas”, is that the methane produced in this way represents a sink for CO₂ emissions, as it replaces fossil sources and CO₂ is thus fed into a closed cycle.

Research in the field of Power-to-Gas technology is currently addressing technological advances both in the field of electrolysis and for the subsequent methanation, in particular to reduce investment costs. In the field of methanation, load-flexible processes are to be developed that are adapted to the fluctuating supply of hydrogen. The profitability of the Power-to-Gas process chain can be increased through synergistic integration into existing industrial processes. For example, an integrated smelting works offers a promising infrastructural environment, since, on the one hand, process gases containing carbon are produced in large quantities and, on the other hand, the oxygen as a by-product from the water electrolysis can be used directly. Such concepts suggest an economic application of Power-to-Gas technology in the near future.