Can Vietnam achieve 12 GW of solar power by 2030?

To meet the country’s target of having 12 GW of solar power capacity installed by 2030, the Government of Vietnam should consider a deployment strategy that builds experience, lowers costs, and maximizes economic benefits.

How much solar power does Vietnam have in 2020?

The country has hit a record high by doubling rooftop solar capacity to 378 megawatts (MW) by the end of December 2020, up from 378 MW in 2019. According to the IRENA Renewable Energy Statistics 2021, Vietnam’s installed solar PV capacity in 2020 was estimated as 16,504 MW, up from 4,898 MW in 2019.

Does Vietnam have a solar energy boom?

Vietnam has recently experienced a tremendous solar photovoltaic (PV) boom, marking the beginning of the country’s biggest and most swift energy transition. In 2021, Vietnam’s solar energy capacity was roughly 16.6 thousand megawatts, which is hardly compared to the previous year.

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.

Is solar energy a viable source of energy in Vietnam?

For many years, Vietnam, along with many other third-world countries, depended heavily on coal as the cheapest and most accessible energy source. But, technological advancements and rising environmental concerns have made renewable energy sources more appealing. I. The Growth of Solar Energy Market in Vietnam II. Approval of FiT in Vietnam III.

How many solar PV jobs will Vietnam have by 2030?

Job creation in manufacturing is expected to reach nearly 20,000 full-time equivalents by 2030. Most of these jobs will be export-driven and depend on Vietnam maintaining its current share of the global solar PV market. That, in turn, will depend on the country retaining its attractiveness to interna-tional solar PV manufacturers.