Vietnam's Solar Revolution: Aiming for 80% Renewable Energy by 2050
Vietnam is pushing for a solar energy revolution, aiming to harness its vast potential for renewable energy. The government is drafting incentives to make solar panels affordable and accessible, with the goal of achieving 80% renewable energy usage by 2050.
The cost of a home solar system in Vietnam ranges from USD 2,000 to USD 5,000, making it a viable option for many homeowners. Trinh Can, a 71-year-old resident of Ho Chi Minh City, has already installed solar panels to mitigate power outages and consider the environment.
The government is encouraging homeowners and offices to install solar panels for private use, disconnecting them from the grid to reduce outages and reliance on the outdated grid. This shift is supported by companies like TOYO, focusing on solar cell production, and VSIP, promoting solar energy integration in business settings, such as their partnership with LEGO Vietnam.
Vietnam, now a major producer and exporter of photovoltaic (PV) cells, aims to have solar panels on 50% of homes and offices by 2030. With over 100,000 rooftops already equipped, the country is well on its way to achieving this target. Vietnam's potential for solar capacity is an impressive 380 gigawatts, significantly higher than its current goal of 70 gigawatts.
Vietnam's commitment to renewable energy is driven by both environmental concerns and the need to replace fossil fuels, as required by the Just Energy Transition Partnership. With the support of local and international companies, Vietnam is poised to become a global leader in solar energy.
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