Hanoi solar container communication station Wind Power Plant

How big is Vietnam's solar power potential?

In only two years, 2019 and 2020, Vietnam's solar PV capacity increased by over 16 GW. The country's underlying potential for both solar and wind power is massive, with economic potentials of 2847 GW and 311 GW, respectively, at sites with an LCOE of less than US$150/MWh as of 2018 (Lee et al., 2020).

How has Vietnam benefited from solar & wind power development?

Vietnam has orchestrated the first stage of its solar and wind power development using FITs and a supportive overall investment environment. Government incentives and enabling policies that have boosted energy availability while avoiding upward pressure on electricity prices have gained public support.

How open is the decision-making process for solar and wind power in Vietnam?

3. 4. 5. 6. 7. Source: Compiled by the authors from Vietnamese government documents. According to our interviewees, decision-making processes for solar and wind power have been fairly open and adaptive in Vietnam.

How many solar PV systems are installed in Vietnam?

More than 100,000 rooftop solar PV systems were installed in Vietnam in 2019 and 2020, an extraordinary achievement (Electricity of Vietnam, 2020). While most of the ASEAN countries share similar opportunities, they have yet to experience the rapid progress in solar and wind development seen in Vietnam (Fig. 1). Fig. 1.