Is Vietnam suitable for solar power generation

Is Vietnam a good place to develop solar power?

With a high average annual total radiation, Vietnam is considered a place with special potential for developing solar power. In the world trend of restructuring the energy industry towards a clean and sustainable direction, the solar industry is expected to be a major contributor to the country’s renewable energy capacity in the near future.

How much solar power does Vietnam have?

As of 2020, Vietnam had over 7.4 gigawatts (GW) of rooftop solar power connected to the national grid. These renewable energy numbers surpassed all expectations. It marked a 25-fold increase in installed capacity compared to 2019’s figures. In 2021, the data showed that Vietnam now has 16.5 GW of solar power.

Is Vietnam a leader in solar and wind energy development?

Since 2019, Vietnam has emerged as the leader in solar and wind power generation in the ASEAN region with the most installed capacity. While other ASEAN countries have similar prospects, they have yet to see the fast growth in solar and wind energy development that Vietnam has experienced.

Does Vietnam invest in solar energy?

Vietnam has invested heavily in solar. Over the years, Vietnam has also undertaken a significant number of solar projects, most notably, The Dau Tieng Solar Power Complex, which is Southeast Asia’s largest solar project. Besides, solar energy projects in Vietnam have attracted a lot of FDI and private investment in the past few years.

How has Vietnam benefited from solar & wind power development?

Vietnam has orchestrated the first stage of its solar and wind power development using FITs and a supportive overall investment environment. Government incentives and enabling policies that have boosted energy availability while avoiding upward pressure on electricity prices have gained public support.

How much solar power will Vietnam have in 2020?

Totaling 18 GW as of 2015, Vietnam’s hydroelectric generation capacity is expected to increase to about 21.6 GW in 2020 nonetheless. Turning to solar, Vietnam’s government aims to raise solar power capacity to 0.5 percent of national output by 2020, 3.3 percent by 2030 and 20 percent by 2050.