The possibility of Vietnam developing nuclear power is low, according to the Energy Institute of the Ministry of Industry and Trade (MOIT).

According to experts, the dominant energy technology in the future will be energy storage devices, solar panels, clean hydrogen and wind energy.

The world cannot develop sustainably if people continue to put rivers and forests in harm’s way to develop hydropower plants. Fossil fuel resources are becoming exhausted as they are being overexploited to serve thermal power plants.

Energy service companies (ESCOs) are facing numerous risks since the regulatory framework for their sector is both incomplete and patchy, according to industry insiders.

The Ministry of Industry and Trade (MOIT) has proposed continuing the FIT (feed in tariff) for wind power, but lowering the tariff by 20 percent, causing concern among wind power developers.

The Ministry of Natural Resources and Environment (MONRE), which is compiling the draft of the amended law on environmental protection, 

Mergers and acquisitions in renewable energy in Vietnam are on an upward trajectory and expected to become even hotter next year, with the country officially overtaking Thailand to rank as the largest solar market in Southeast Asia.

At present, renewable energy plays an important role in meeting people’s increasing demand for energy. Renewable energy resources are abundant and available in the nature and exist in many forms.

Investors continue to pour money into solar and wind power projects, but the total capacity of approved renewable energy projects could exceed the transmission line capacity.

Input costs for both solar and wind power in Vietnam fell respective 75% and 30% in 2012-2017.

Vietnam will likely have to increase coal power to ensure stable and affordable power supply.

Solar power capacity is increasing thanks to significant changes in feed-in-tariff.

A researcher on renewable energy, Dr Vo Viet Cuong, from the Electrical and Electronic Engineering Faculty under the HCM City University of Technology and Education, has noted that there is no absolutely clean energy.

The value of the Vietnamese renewable energy sector may reach US$714 billion and it may keep developing for at least 25 years, Vietinbank Securities JSC said in a report.

Vietnam’s electricity output is forecast to rise to 950 billion kWh by 2045 to meet the growing demand for economic expansion.

According to the Electricity of Vietnam (EVN), the total capacity of rooftop solar power projects in southern provinces now makes up 60 percent of its total solar power capacity nationwide.

Work on construction of the Dong Hai 1 wind power plant, second phase, began in Long Dien Dong commune, Dong Hai district of the Mekong Delta province of Bac Lieu on October 10.

Vietnam aims to raise its renewable energy sources to 15-20 per cent of the total energy supply by 2030 and 25-30 cent by 2045.

Vietnam has become an importer of coal, oil and gas, but experts have warned against a high reliance on imports.

An electricity shortage did not occur in 2010-2019, but it may face a problem in 2021-2025 as a series of electricity generation projects have been going slowly.