This paper presents new results on the assessment of sustainability indicators for renewable energy (RE) systems (solar PV, wind, phosphoric acid fuel cell, and solid oxide fuel cell). Multi-criteria decision-making (MCDM) model and hybrid Step-wise Weight Assessment Ratio Analysis/Additive Ratio Assessment (SWARA/ARAS) method are used in this study. Five sustainability criteria (resource, environmental, economic, social and technology) and fourteen sub-categories (area, material, energy-construction, energy-fuel, CO2-construction, CO2-fuel, capital-construction, capital-fuel, delivered cost of energy, current installed capacity, growth rate, capacity factor, system efficiency, and lifetime) are included in this analysis. The extended SWARA and ARAS hybrid method in addition to three energy experts are used in this study for the calculation of sustainability indicators. The final result of this process of ranking the four renewable energy technologies using SWARA-ARAS hybrid method based on the five sustainability criteria and the fourteen subcategories is: (1) wind energy systems (land-based), (2) solid oxide fuel cell, (3) phosphoric acid fuel cell, and (4) solar energy systems (poly-silicon). The MCDM model integrated with the hybrid SWARA/ARAS method is found to be a useful methodology for the sustainability assessment of renewable energy systems, sustainable energy development and decision-making for policy makers.