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Identify and track all the ongoing (work-in-progress) solar photovoltaic (PV) projects, tenders, and contract awards. Our extensive database and user-friendly interface make it easy for you to find the right business opportunity in Vietnam.
Vietnam Solar Photovoltaic (PV) Industry Analysis
The solar photovoltaic (PV) power industry in Vietnam has seen significant growth in recent years, with the country now ranking as one of the top markets for solar PV in Southeast Asia. According to the International Renewable Energy Agency (IRENA), Vietnam had an installed solar PV capacity of over 4 GW in 2020, with the majority of installations being used for grid-connected systems.
One major factor driving the growth of the PV industry in Vietnam is the country's strong commitment to renewable energy. Vietnam has set ambitious targets to increase the share of renewables in its energy mix, with a goal of achieving 6% of total electricity generation from renewable sources by 2030. To support this goal, the government has implemented a range of incentives and policies, including feed-in tariffs and net metering, to encourage the adoption of solar PV.
The growth of the PV industry in Vietnam has also been supported by advances in storage technology, which has allowed solar energy to be used more efficiently and consistently. This has made it easier for businesses and households to rely on solar power as a primary energy source.
One of the challenges facing the PV industry in Vietnam is the need for more advanced storage technology to support the integration of renewable energy into the grid. With more solar PV installations coming online, there is a need for better storage solutions to ensure that excess energy can be stored and used when needed.
Overall, the solar PV industry in Vietnam has experienced significant growth in recent years and is expected to continue to expand in the future. The government's commitment to renewable energy and the availability of incentives and policies will likely continue to drive the adoption of solar PV in the country.
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