Will Vietnam be able to develop solar energy in 2030?

Vietnam has announced ambitious targets for the de-velopment of solar energy electricity generation with announced targets of 12 GW of installed capacity by 2030. The World Bank is supporting the Government of Vietnam in developing a Solar PV Strategy and financ-ing the first round of solar PV development.

What is the power sector development plan in Vietnam?

The Plan further aims at reducing Vietnam’s dependence on imported energy, increasing self-sufficiency and the development of renewable energy sources in the country. To illustrate the potential of this industry in Vietnam, in this article we will briefly summarize and assess some important issues with regard to the power sector development plan.

How much solar power will Vietnam have in 2025?

Under the plan, the total installed capacity is expected to be 60 GW in 2020, 96 GW in 2025, and 130 GW in 2030. Vietnam’s solar potential is illustrated in figure 1.1. Revised PDP 7 places greater emphasis than the previous PDP on renewable energy development.

What are Vietnam's solar targets for 2021 – 2030?

The Government of Vietnam is revisiting its solar targets under the Power Development Plan 8 for the period 2021– 2030 (PDP 8). The current target under discussion for solar generation is 18 GW by 2030. PDP 8 is expected to be final-ized and published early 2020.

How much power will Vietnam have by 2021?

According to the draft Power Development Plan 8 of February 2021, solar and wind capacity will reach 18.6 GW and 18 GW by 2030, respectively, accounting for about 26% of the total electricity generation capacity (Vietnam Energy Institute, 2021).

Why is solar power important in Vietnam?

As Vietnam continues its rapid economic development, the demand for sustainable and reliable energy sources has never been more critical. Solar power has emerged as a key component of Vietnam’s strategy to diversify its energy portfolio and reduce its carbon footprint.