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.

Is solar power a viable option for Vietnam?

Solar power generation is an increasingly attractive option for Vietnam thanks to recent cost reductions, fast construc-tion timelines, and the contribution solar power can make to ensuring energy security and environmental sustainability.

Does Vietnam have a good policy framework for solar PV diffusion?

Despite strong initial successes in solar PV uptake, Vietnam’s policy framework for solar PV diffusion has not been flawless. One notable limitation has been the use of short FIT windows, with high and extended uncertainty over the FIT regime that will apply for new projects at the expiry of any window.

Does Vietnam need a solar deployment strategy?

Vietnam is a major manufacturer of solar photovoltaic equipment and currently exports most of its production. A strong solar deployment strategy could shift the focus toward domestic use. Vietnam holds 7 percent of the global solar photovoltaic market and produces enough cells and panels each year to generate 5 GW of electricity.

How many solar PV systems are installed in Vietnam?

In 2019 and 2020, more than 100,000 rooftop solar PV systems were installed in Vietnam (Electricity of Vietnam, 2020). While most ASEAN countries share similar opportunities, they have yet to experience the rapid progress in solar and wind development seen in Vietnam.

Could solar power boost Vietnam's industrial development?

The World Bank ( 2021) suggested that a target of 10 GW by 2030 and 25 GW by 2035 would likely drive Vietnam’s industrial development and help the country meet its emissions targets. Abundant sunshine makes it an attractive location for solar, particularly in the south, with potential estimated at 12–15 GW.