According to the National Power Development Plan VIII for the period of 2021 – 2030, with a vision to 2050 (referred to as the Power Development Plan VIII), development orientation the electricity will promote the development of renewable energy sources, new energy, clean energy suitable with the ability to ensure system safety with reasonable electricity prices, especially self-generating, self-consuming and rooftop solar power sources.
Renewable energy development is an opportunity to enhance the overall ecosystem of the energy industry
The Power Development Plan VIII was approved by the Prime Minister on May 15, 2023, under Decision No. 500/QD-TTg. Renewable energy is prioritized for strong development to meet the requirements of equitable energy transition. Developing renewable and new energy is an opportunity to develop the entire energy industry ecosystem.
One of the development goals set in the Power Development Plan VIII is to successfully implement equitable energy transition in association with production modernization, smart grid construction, advanced power system management in line with the trend of green transition, emission reduction, scientific development, technology of the world. To achieve an equitable energy transition, the goal is to strongly develop renewable energy sources for electricity production, reaching the rate of about 30.9-39.2% by 2030, towards the target of 47% renewable energy rate, provided that international partners fully implement commitments under the Joint Energy Transition Partnership (JETP) with Vietnam. Orientation to 2050 renewable energy rate up to 67.5-71.5%.
Furthermore, controlling greenhouse gas emissions from electricity production to reach about 204-254 million tons in 2030 and around 27-31 million tons in 2050; aiming to reach peak emissions of no more than 170 million tons by 2030 with the condition that international partners fully and substantively implement commitments under JETP. Additionally, it is necessary to build a smart grid system capable of integrating and safely operating large-scale renewable energy sources.
Renewable energy is given strong priority in the National Power Development Plan for the period of 2021 – 2030, with a vision to 2050 (Internet illustration)
The Power Development Plan VIII outlines a development strategy to accelerate the development of power sources from renewable energy and continue to increase the proportion of renewable energy in the structure of power sources and production power. Orientation to strongly develop offshore wind power in combination with other forms of renewable energy (solar power, onshore wind power…) to produce new energy (hydrogen, green ammonia…) to serve domestic and export demand. Renewable energy power sources producing new energy for domestic and export demand are prioritized/allowed for unlimited development to ensure national defence and energy security and bring about efficiency, and high economic results, becoming a new economic sector of the country.
Furthermore, the Power Development Plan VIII also sets goals to develop the renewable energy industry and service ecosystem. It is expected that by 2030, to form two inter-regional renewable energy industry and service centres in areas that include electricity production, transmission, and consumption; manufacturing of renewable energy equipment; construction, installation, and related services; and the development of renewable energy industrial ecosystems in regions with high potentials, such as the North, the South Central and the South when conditions permit. It also aims to develop electricity sources from renewable energy and produce new energy for export. Striving to 2030, the scale of electricity export capacity will reach about 5,000-10,000 MW.
Priority and breakthrough policies are in place to promote the rooftop solar power development
Among renewable energy sources, self-generating and self-consuming electricity, specifically rooftop solar power, is given special priority for development. The Power Development Plan VIII emphasizes prioritizing and encouraging wind power development, self-generating, and self-consuming solar power (including solar power on people’s roofs and constructions roofs, solar power at production, business, and consumption establishments on site, without connecting or selling electricity to the national grid). Prioritize and adopt breakthrough policies to promote solar power development on people’s roofs and construction sites, especially in areas at risk of power shortage, such as North and self-generating and self-consuming solar power. From now to 2030, the capacity of these power sources is estimated to increase by 2,600 MW. This type of power source is prioritized for unlimited capacity development, provided it is reasonably priced and makes use of the existing power grid without having to upgrade.
Self-generating and self-consuming solar power will be prioritized for unlimited capacity development
In particular, the Power Development Plan VIII aims to have 50% of office buildings and 50% of residential houses by 2030 using self-generating and self-consuming rooftop solar power (for on-site consumption, not selling electricity into the national electricity system).
The Power Development Plan VIII is expected to drive the development of the renewable energy sector, the electrical industry as a whole and contribute to the economy of Vietnam. It would greatly accelerate the transition to renewable energy sources, clean energy, and new energy, while supporting the reduction of greenhouse gas emissions and achieving Vietnam’s COP26 commitment of Net-Zero emissions by 2050.
For detailed information, please refer to the full text of Decision 500/QD-TTg dated May 15, 2023, Approving the National electricity development plan for the period of 2021 – 2030, with a vision to 2050:
(Translation source: Korea Champer of Business in Vietnam)
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