Will Vietnam's rooftop solar sector get a major investment boost?

The Vietnam rooftop solar sector is set for a major investment boost with a new draft decree published in early October 2024.

Is Vietnam a good place for solar energy?

Abundant sunshine makes it an attractive location for solar, particularly in the south, with potential estimated at 12–15 GW. The average annual solar energy received on a horizontal surface in Vietnam varies between approximately 1200 and 2000 kWh/m 2. Vietnamese power production by fuel type, 2013–2022.

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.

Can a solar PV system be installed in Vietnam?

“PCs can strengthen the PPA terms to more bankable terms enabling low-cost long-term financing for industrial consumers.” There is currently no specific legal framework for installation of storage systems for solar projects in Vietnam.

How can Vietnam improve its energy system?

Vietnam's energy system is in a state of transition too, with the government seeking to balance the need for economic growth with the need to reduce GHG emissions and increase renewables. Under the current scheme, the only options for further renewables development involve additional solutions such as storage.

Will Vietnam implement a carbon credit exchange in 2028?

Vietnam is expected to implement and regulate an official carbon credit exchange beginning in 2028, and connections with regional and global carbon markets and exchanges of domestic carbon credits therewith should be available.