Vietnam has announced a goal to develop renewable energy sources

By 2045, Vietnam wants renewable energy to account for three-quarters of its national power generation capacity. According to the government’s commitments announced at the United Nations Climate Change Conference 2021 (COP 26), it hopes to obtain 70% of the real production from renewable sources. The goals were set as the cornerstone of the country’s shift to sustainable energy, according to a Vn Express story, after Pham Minh Chinh, the Prime Minister, pledged to reach net-zero emissions by the year 2050 during the conference.

Vietnam will transition from fossil fuels to sustainable power, according to Hoang Tien Dung, the head of the Electricity and Renewable Energy Authority. According to him, the Ministry of Industry and Trade wants to grow wind and solar power output by 333 percent and 167 percent, respectively, under the draft 10-year Power Development Plan. Power generated by rooftop panels will be included in the solar capacity.

Vietnam has a large potential for renewable energy growth, according to Deputy Minister of Science and Technology Tran Van Tung, with 217 gigawatts of the onshore wind power, 160 gigawatts of the offshore wind power, as well as 434 gigawatts of the solar power (incorporating rooftop panels). He claims that the development of the renewable energy will benefit Vietnam in many ways, including cheaper operational costs, as renewable energy costs are expected to fall in the future while fossil fuel costs are expected to rise.

“Vietnam has to encourage investment in green and new technologies, as well as devote resources to their development with appropriate technology transfers,” Tung said. Dao Xuan Lai, the head of UNDP Vietnam’s Climate Change and Environment Unit, said another goal should be to use energy more efficiently, as the country needed up to 1.7 times more energy to produce power than other countries in the region.

He also stated that in order to achieve greenhouse gas neutrality in the future, Vietnam must lower emissions from the industrial sector by half. Meanwhile, Vietnam Electricity, the country’s largest power generator, has warned that power shortages in the northern area will occur during peak hours and during extreme weather next year.

According to the Express, Vo Quang Lam, the firm’s deputy general director said at a seminar on energy needs that the north would likely face shortages from May to July when hot spells are common and temperatures can reach 36 degrees Celsius. He predicted that when more commercial activity begins and people adjust to Covid, power demand for socioeconomic growth would climb next year.

Peak output in the north will increase by between 2,076 to 2,870 MW next year, as per the company’s estimations. Hydropower plants such as Lai Chau, Son La, and Hoa Binh provide approximately 45 percent of the region’s electricity, but they frequently encounter water shortages during the dry season.

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