Vietnam leads Southeast Asia in transition to clean energy

Southeast Asia is a bright spot in transformation clean energy. Data in the US shows that 80% of US solar panel imports come from 4 Southeast Asian countries: Vietnam, Cambodia, Thailand and Malaysia. The declaration of a 2-year tax exemption for panels from these 4 countries shows that there is great demand in the US for solar panel products from Southeast Asia in the next 2 years. Southeast Asia’s strength in renewable energy development is recognized worldwide.

The Economist – The Economist website of the UK had an article highlighting the speed of development and the transition to clean energy in Southeast Asia, especially emphasizing the line titled “Vietnam is leading in the region”. area in this transformation”.

The article begins with an assessment that Southeast Asia is one of the most vulnerable regions to climate change. This smoky region also doesn’t seem interested in giving up fossil fuels, but in that dark general picture, Vietnam is a bright spot.

According to The Economist, within 4 years to 2021, the proportion of solar power in Vietnam has increased from zero to nearly 11%. This is not only a faster rate of growth than most other parts of the world, but also a higher share than that of major economies like France or Japan. Last year, Vietnam became the 10th largest solar power producer in the world.

Solar panels of Gio Thanh 1 Solar Power Plant, Quang Tri. (Photo: VNA)

A study by the Australian National University shows that, since 2019, Vietnam has quadrupled its wind and solar power capacity. This “extraordinary achievement” is largely driven by political will and market forces.

The Economist also emphasized that reforms to make it easier for foreign investors to do business in Vietnam have also contributed to the success of the energy transition strategy.

An analysis by RatedPower, a Spanish renewable energy corporation, also highlights that Southeast Asia is one of the world’s fastest growing regions for solar power generation. Four countries including Vietnam, Thailand, the Philippines and Malaysia account for about 98% of the region’s solar capacity. In which, in 2020, Vietnam will take the lead.

According to the International Renewable Energy Association (IRENA), Vietnam has become the world’s sixth largest solar market, with a total capacity of 16.5 GW by the end of 2020.

The second phase of the ASEAN action plan on energy cooperation 2021 – 2025, aims to achieve 35% of the share of renewable energy in total installed capacity by 2025. The growth rate of solar power is daily. from 2018 to 2040, is expected to reach 10.4%.

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