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Vietnam
Vietnam’s Solar Market Outlook
Vietnam, a developing country in Southeastern Asia, has seen a dramatic increase in energy demand in the last five years. This rise in demand has subsequently fuelled the growth of the solar sector in the swiftly developing Asian country. According to recent International Renewable Energy Agency (IRENA) statistics, Vietnam is among the top ten leading countries in solar utilization. This is pretty awesome for a developing nation, don’t you agree?
Statistics released in late 2020 reveal that Vietnam’s solar capacity stood at over 7.4 Gigawatts. This is positively surprising considering that the country’s solar capacity was only 4 megawatts in 2015. The figure below will help paint a clear picture of Vietnam’s exponential growth in matters concerning solar energy;
Solar equipment supply capacity in Vietnam
From a solar products production and supply perspective, Vietnam has immense growth potential. As part of an ambitious solar sector growth plan, the government of Vietnam has implemented flexible investment policies. These policies are primarily responsible for the rise in domestic and foreign producers and distributors dealing with different solar product categories.
It is also worth mentioning that Vietnam’s incredible port and logistical infrastructure have further strengthened its positive solar sector outlook. As stated by the World Economic Forum, Vietnam ranks at position 80 on the quality of port infrastructure. Do you intend to sell or buy solar products from the Vietnamese market? If the answer is yes, you can rest assured that you can safely transport any product to or from Vietnam.
I can confidently conclude that there are immense opportunities for individuals who intend to buy or supply different solar products in Vietnam.
Whether you are a solar installer or EPC, the SolarFeeds family is eager to help push your Agenda in the Vietnamese solar market. Please feel free to talk to us concerning your desires and how we can help you achieve them. Don’t run around requesting for quotes. Let quotes come to you, POST AN INQUIRY!
