Electricity in Vietnam in 2023

As of 2023, Vietnam's electricity consumption is predominantly sourced from fossil fuels, with coal providing over half at 126 TWh and gas and oil contributing an additional 27 TWh. Low-carbon energy sources are steadily growing, producing almost a third of the total electricity with 113 TWh combined from hydropower, solar, and wind. Hydropower is the largest clean energy source, contributing nearly 77 TWh, while solar and wind generate about 25 TWh and 10 TWh respectively. The total electricity consumption in Vietnam is roughly 266 TWh with a per capita generation significantly lower than the global average of 432 watts/person. This lower level of electricity generation might impede economic growth and affect the quality of life, underscoring the need for a diversified and expanded electricity portfolio.

Suggestions

To increase low-carbon electricity generation, Vietnam can draw lessons from countries that have successfully scaled up clean energy technologies. For instance, China has made massive strides in wind and solar energy, generating 886 TWh and 584 TWh respectively. Vietnam could enhance its wind energy capacity by adopting similar strategies such as technology investments and supportive policies that China implemented. Similarly, India’s success in solar generation, producing more than 110 TWh of electricity, serves as an excellent model given the similar climatic conditions. Additionally, expanding nuclear energy, as seen in countries like France (336 TWh) and South Korea (180 TWh), could provide a stable and reliable electricity supply, significantly reducing the dependency on harmful fossil fuels and mitigating climate change effects.

History

Vietnam's history of low-carbon electricity shows fluctuating growth, primarily driven by hydropower until recently. In the early 2000s, incremental increases in hydro generation were recorded, with notable jumps in 2011 (12.6 TWh) and 2012 (12.2 TWh). However, there were periods of decline, such as in 2015 (-5 TWh) and more prominently in 2019 (-17.9 TWh). The recent decade saw a significant diversification with solar energy starting in 2019 (5.2 TWh) and rapid growth in 2021 (14.9 TWh). Wind power also emerged in 2022, contributing an additional 5.6 TWh. Despite some setbacks in hydropower by 2023 (-19.2 TWh), the surge in solar and wind indicates a positive trend towards a more balanced and sustainable energy mix. To ensure a robust low-carbon future, Vietnam should continue building upon these advancements, particularly focusing on expanding its nuclear, wind, and solar capabilities.

Electricity Imports and Exports

Balance of Trade

Data Sources