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Viet Nam among world’s top 10 solar power producers

VGP – Viet Nam ranks eighth among the world’s top 10 countries that produce the most solar power with installed capacity of 16,504 MW, accounting for 2.3 percent of the global capacity.

11/18/2021 20:50

The Visual Capitalist released an article on November 17, using data from the International Renewable Energy Agency (IRENA) to map solar power capacity by country in 2021, including both solar photovoltaic and concentrated solar power capacity.

The world is adopting renewable energy at an unprecedented pace, and solar power is the energy source leading the way.

Despite a 4.5 percent fall in global energy demand in 2020, renewable energy technologies showed promising progress. 

While the growth in renewables was strong across the board, solar power led from the front with 127 gigawatts installed in 2020, its largest-ever annual capacity expansion.

According to the Visual Capitalist, the solar power consumption per capita in Viet Nam is 60W. 

Viet Nam has been a Southeast Asia solar success story. It went from having barely any generation in 2018 to a quarter of its total installed capacity being solar – a 100-fold increase in two years.

This rapid growth is mainly down to the Vietnamese Government’s feed-in tariff which provides a guaranteed above-market price for renewable energy producers; other incentives signed off in 2017 in an attempt to pivot away from lagging fossil fuel projects; and cheaper solar panels, some of which are assembled domestically.

By Thuy Dung