Solar energy has recently been considered one of the breakthrough industries that can bring impressive profits to businesses.

In order to rectify the existing inadequacies, Vietnam might have to adopt a long-term strategy to develop solar energy.

The International Renewable Energy Expert, a local solar power cell producer, has introduced the first made-in-Vietnam Agri-PV (Agriculture photovoltaic module) for dual-use solar energy agriculture projects in domestic and export markets.

Vietnam’s total output of electricity from renewable energies hit 9.5 billion kWh in the first four months of 2021, up 156.9% year-on-year, and accounting for 11.8 percent of the total electricity output, according to Vietnam Electricity.

Néang Sốt, 29, lives on the side of a dirty road near the forest in a makeshift house erected from steel frames with her four children in An Tuc Commune, southern An Giang Province. 

The growth of solar power generation in Vietnam has come alongside increasing concern over the disposal of end-of-life solar panels in the coming decades.

The Prime Minister has requested the Ministry of Planning and Investment (MPI) propose suitable management solutions for solar power projects.

While the renewable energy industry found favor among many foreign firms and foreign investment funds in the past, now, local players have become increasingly active, 

With Vietnam struggling alongside the rest of the world in attempting to overcome the coronavirus pandemic, the government has taken solutions to fuel the energy sector. 

Vaibhav Saxena, foreign lawyer at Vietnam International Law Firm, discusses how Decision No.13/2020/QD-TTg will impact the Vietnamese solar power market.

An energy strategy that focuses on renewables, natural gas, energy efficiency and battery storage will attract private sector investment, the Vietnam Business Forum (VBF) said in a report.

The rush to invest in wind energy to take advantage of the Government's pricing incentives could lead to overloading of the national grid in a repeat of the solar scenario, experts warn.

Warning of electricity shortage, the Vietnam Energy Association (VEA) has asked the Prime Minister to instruct local authorities not to turn their back on coal-fired thermopower projects.

While developed countries are cutting the number of coal-fired thermopower plants for fear about environment pollution, Vietnam is still building more plants.

The demand for electricity merchandise will be high in the upcoming years: 235 billion kwh, 352 billion kwh and 506 billion kwh by 2020, 2025 and 2030, respectively.

The Ministry of Industry and Trade has called for a pilot scheme on realizing a bidding mechanism for solar power projects in 2020 prior to the official launch and widespread implementation of such bidding as from 2021.

The Vietnam Electricity (EVN) group has agreed with continuing the current feed-in tariff (FiT) rate at 9.35 US cents per kWh for rooftop solar power projects nationwide until 2021.

Vietnam’s increasing demand for energy, and the country’s large opportunities in wind energy, has caused many investors to turn their attention to Vietnam over the past few years.

Korean investors are keen to invest in renewable energy due to its potential and the incentives that Vietnam has offered to foreign investors, an HSBC official has said.