That is one of the findings from the joint research conducted by the Australian National University, the Norwegian Institute of International Affairs, the ASEAN Centre for Energy, and the National Economics University of Vietnam. Specifically, between 2019 and 2020, the generation of electricity and solar electricity increased from 4.7 TWh to 9.5 TWh, equivalent to a 1.98% increase in the total share of electricity generation in Vietnam. This development has surpassed the pace of other countries in the region like Malaysia, Singapore, and Indonesia.
The total capacity of 16,500 MW of solar photovoltaic in 2020 has significantly exceeded the original target for this year of 850 MW, which was set by the Government of Vietnam in 2016. This capacity is relatively close to the tentative target of 18,600 MW of installed solar power capacity by 2030, which is mentioned in the National Power Development Plan 8.
Vietnam has led the adoption of solar and wind electricity in ASEAN since 2019. Political and social support, incentive instruments, supporting regulations, and investment attractiveness have promoted the solar and wind uptake in Vietnam.
Sources & further information: “Vietnam sees fastest rise in solar, wind power rate in national electricity structure in 2020: Research” at https://en.vietnamplus.vn and “Tỷ trọng điện gió, điện Mặt Trời của Việt Nam tăng nhanh nhất khu vực” at https://www.vietnamplus.vn, accessed on 13 October 2021.