Electricity in Vietnam in 2024

As of 2024, Vietnam's electricity consumption exhibits a significant reliance on fossil fuels, with more than half of its electricity generated from these sources, primarily coal, which alone accounts for almost half the nation’s electricity. Despite this, there is substantial progress in the clean energy sector, with close to half of Vietnam's electricity originating from low-carbon sources. Notably, hydropower is the most significant contributor, making up almost a third of the total electricity generation. Solar energy is also on the rise, contributing around 8% to the electricity mix, while wind energy plays a smaller role but still represents an essential step toward a more sustainable future.

Suggestions

To enhance its low-carbon electricity output, Vietnam can look to similar countries that have successfully integrated clean energy into their electricity systems. In particular, Denmark has set a remarkable precedent with its wind energy production, where more than half of its electricity comes from wind power. Vietnam should consider investing in its wind capacity, leveraging its geographic advantages to harness wind energy effectively. Moreover, Vietnam could benefit from exploring nuclear energy, learning from countries like South Korea and Bulgaria, where nuclear power provides a substantial share of their clean electricity. This diversification in clean energy sources will help Vietnam mitigate the adverse effects of fossil fuels, such as climate change and air pollution.

History

Historically, Vietnam has witnessed significant fluctuations in its low-carbon electricity generation, especially in hydropower. During the early 2000s and 2010s, there were consistent increases, with notable spurts such as 2001, 2008, and a remarkable rise in 2011 and 2012. However, in the mid-2010s, hydropower faced setbacks with declines in 2015 and 2019. The turning point for solar energy came in 2019, which saw its initial increase, followed by substantial growth in the subsequent years, peaking with a significant jump in 2021. Wind energy also marked its presence in 2022, contributing an important boost to Vietnam's clean energy portfolio. The expansion of these sustainable sources illustrates Vietnam’s ongoing commitment to a greener electricity sector, steering away from fossil dependency.

Electricity Imports and Exports

Balance of Trade

Data Sources