Solar Power in Vietnam's Energy Transition

Abstract

The global energy industry is transitioning towards sustainability, low carbon, and long-term security. This energy transition is believed to be taking place between fossil fuels and renewable resources, especially accelerating in the wake of the COVID-19 pandemic and the Ukraine crisis. The combination of these two events is considered one of the major reasons for the increased vulnerability of today's energy markets. More specifically, these energy shocks also highlight the urgent need to shift to more sustainable energy sources. Amid this context, the Government of Vietnam has seized the opportunity and made great strides towards cleaner energy sources, of which the most prominent is solar photovoltaic (PV). Building on the remarkable progress made by solar PV over recent times, this study provides a much-needed insight into the ongoing energy transition in this Southeast Asian country. Furthermore, this paper also discusses potential gaps in this energy transition to help stakeholders determine the future roadmap.