The rapid development of solar and wind power in Vietnam
Since 2017, many solar power and wind power projects have been implemented in Vietnam, marking the country as a bright spot on the world’s renewable energy map.
With a high price for this type of energy (a feed-in tariff price of 2,086 VND/kWh for solar power, 1,900 VND for wind power), Vietnam was able to attract billions of dollars from the private sector for solar power and wind power. The rapid development of renewable energy sources added supply sources for the power system, helping to reduce the risk of power shortages in the 2018-2019 period, ensuring national energy security in Vietnam.
However, the shift to clean energy causes challenges for the Vietnam Electricity Group (EVN) in energy transition, such as high cost of implementing energy transition, and putting pressure on electricity prices. EVN’s power grid system does not yet have flexibility when integrating renewable energy sources. The average retail price of electricity in Vietnam is still low compared to other countries in the world, and there is no flexible mechanism for retail prices. In addition, the highly variable proportion of renewable energy makes the power system operation more complex.
Tam An
