Electricity in Vietnam in 2023

In 2023, Vietnam's electricity consumption was characterized by a higher dependence on fossil fuels, particularly coal, and a considerable amount of clean, low-carbon energy. Fossil energy sources contributed more than half of the consumption with approximately 158 TWh, with coal alone accounting for near 128 TWh. The amount of clean, low-carbon energy, including hydropower, solar, and wind, was almost equal to the amount of fossil energy, accounting for about 121 TWh. While hydropower was the central low-carbon source with 83 TWh, solar and wind also contributed significantly, generating approximately 27 and 11 TWh respectively. In comparison to the global average electricity consumption of 410 watts per person, Vietnam's reliance on low levels of electricity generation may lead to restrictions in industrial development, compromise the quality of life, and pose challenges to the local economy.

Suggestions

To increase low-carbon electricity generation, Vietnam could draw insights from countries like the People's Republic of China, United States, and India, which have successfully harnessed wind, nuclear, and solar energy. For instance, China, a country with similar urban and rural energy dynamics to Vietnam, generates a substantial amount of its electricity from wind and solar energy, producing around 964 TWh and 523 TWh respectively. Likewise, the United States has excelled in nuclear and wind energy, contributing about 775 TWh and 425 TWh accordingly. Interestingly, India's use of solar energy, which generated approximately 120 TWh, could serve as an exemplary case for Vietnam, given both countries' similar tropical climatic conditions.

History

Reflecting on the history of low-carbon electricity in Vietnam, it's noticeable that hydropower has been the predominant clean energy source, with substantial growth between 2001 and 2023. Throughout this period, there was a steady increase in hydropower generation with peaks in 2011, 2012, and 2017. Despite a decline in 2015, 2018, 2019, and a significant drop of -17.5 TWh in 2023, hydropower generation recovered and continued its growth. The late 2010s marked the rise of solar energy in the country with a remarkable increase by 14.9 TWh in 2021. The development of wind energy began to leave a mark in the country's energy landscape by 2022, generating 6.3 TWh in its debut year.

Electricity Imports and Exports

Balance of Trade

Data Sources