How did Vietnam Solar PV Industry Manag to Grow up to 5 Times during 2019?

The cumulative solar capacity of Vietnam is increased more than 5 times only in 2019. It was due to a 4.8 GW annual additional capacity in 2019. It resulted in Vietnam entering the top ten PV market in 2019. It was a milestone and for the first time in the history of the country. 

But how did Vietnam manage to achieve this growth in its Solar Industry? According to the Economist, Solar power played almost no part in Vietnam’s energy mix in 2017. To speed the technology’s adoption, the government offered that year to pay suppliers a generous $0.09 for every kilowatt-hour produced by big solar farms, but only if they started operations within the following two years. The expectation was around 850 MW of capacity to be installed. Instead, by the end of 2019, the country found itself with 5 Gigawatts—more than Australia, with an economy almost six times the size.

Entering the top 10 solar countries was a milestone for Vietnam, and it was a first-timer. As we mentioned in our previous post, No. 928, having 3.1 GW added solar capacity in 2019 was the threshold for entering the top ten list  PV market of the year. There were six Asia-Pacific countries in the top ten PV markets in 2019 including China, India, Japan, Australia, and Korea in addition to Vietnam. There were also three European countries (Spain, Germany, and Ukraine) and one country in the Americas (the USA).

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Source:@ IEA, @theeconomist & @Solar_Edition

Photo: @ asia.nikkei, @ en.vietnamplus, @ currentaffairs & @Solar_Edition

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