Joy and sorrows of Vietnam solar installation kit market

Fast-growing electricity demand and ambitious solar installation kit 

       In recent years, with the sustained and rapid economic growth, Vietnam's electricity demand has surged. According to experts, the annual growth rate of electricity demand in Vietnam will remain above 8% in the next 10 years.       

       However, Vietnam's already tense electricity supply and demand situation, but there is still a further deterioration trend. According to data from the Ministry of Industry and Trade of Vietnam, by 2021, the power gap in Vietnam will reach 6.6 billion kilowatt-hours, expand to 11.8 billion kilowatt-hours in 2022 and 15 billion kilowatt-hours in 2023.      

       The main reason for the aggravation of power shortage in Vietnam is that the construction progress of power projects is too slow. According to relevant information, 47 of the 62 power projects planned for construction have been delayed due to funds and contractors.However, good solar installation kit resources provide a new way for the Vietnamese government to solve the severe power shortage problem.            

     Data show that Vietnam has 2000-2500 hours of sunshine per year, and is one of the countries with the richest solar installation kit resources in Southeast Asia. The Vietnamese government has also promised to vigorously develop renewable energy sources such as solar installation kit generation and wind power generation.In order to achieve this goal, the Vietnamese government has formulated a series of incentive policies for solar power system installation.

Lagging Power Infrastructure and Corrupt Administrative System            

    It is clear that Vietnam has exceeded its 2025 target in the first half of this year. The main reason for the surge in solar installation kit in the first half of this year is obviously the change of policy.Vietnam said that it will not implement the current unified price in the future, but will adopt different prices according to the different lighting resources, and the whole country will be divided into two types of resource areas, which has caused many solar installation kit projects to be centralized and rushed to connect to the grid, resulting in problems.          

    Such a market environment, compared with the lag of hardware construction such as power infrastructure, will undoubtedly bring greater uncertainty for solar power system installation generation projects that need to rely on "approval".For the ambitious Vietnamese power management in the field of solar power system installation generation, this may be a more important thing to pay attention to.