Vietnam is leading the transition to clean energy in Southeast Asia and is a bright spot on an otherwise soot-black map, according to an article published recently on The Economist.
In the four years to 2021, the portion of electricity generated by solar in Vietnam increased from practically nothing to nearly 11 percent, the article said, noting it is not only a faster rate of increase than almost anywhere else in the world, but also a bigger share than larger economies such as France or Japan have managed.
It said Vietnam had become the world’s tenth-biggest producer of solar power last year and recalled that ưhile underlining Vietnam’s commitment to the energy transition, Prime Minister Pham Minh Chinh vowed in November last year to stop building new coal-fired power plants and to reduce Vietnam’s emissions to net zero by 2050.
The article said that other Southeast Asian countries hoping to up their game can learn a few lessons from Vietnam – the country has quadrupled its wind and solar power capacity compared to 2019.
It attributed the “extraordinary achievement” to Vietnam’s political will and market incentives.
As many as 100,000 rooftop solar panels were installed in 2019 and 2020, lifting Vietnam’s solar output to 16GW.
Reforms have made it easier for foreign investors to do business in Vietnam, the article said, noting that the Southeast Asian country will have to make greater efforts if it hopes to achieve net zero emissions by 2050.