Vietnam contributes 69% of ASEAN renewable energy generation


Vietnam accounted for 69% of ASEAN’s solar and wind generation in 2022 and was the region’s main driver in renewable energy development in recent years, according to a report by U.K.-based energy think tank Ember.

Vietnam’s share of renewable electricity generation led the 10-country bloc last year at 13% and it was followed by Cambodia, Thailand, and the Philippines, said the report.

The report also highlighted that ASEAN recorded a 43% average annual growth in solar and wind generation between 2015 and 2022, and the introduction of Vietnam’s feed-in tariff policy in 2017 was the primary driver for this surge.

During that period, Vietnam recorded the most significant growth in wind power generation and solar power generation, with an increase of 8 TWh and 26 TWh, respectively.

Dau Tieng 3 Solar Power Plant in Vietnam. (Photo: PECC2)

Competitive feed-in tariffs, land lease exemptions and tax exemptions were key policies that helped renewable projects boom, the report said. But last year ASEAN recorded a growth slowdown in renewable generation at 15%, compared to 67% in 2021, due to the phasing out of Vietnam’s feed-in tariff.

Ember estimates that more than 99% of wind and solar power potential in ASEAN remains untapped. Supportive policies, including attractive pricing mechanisms, may attract more investment.

The region has 27 GW of solar and 6.8 GW of wind installed capacity in 2022, meaning that less than 1% of the 30,523 GW of solar and 1,383 GW of wind theoretical potential estimated by the National Renewable Energy Laboratory.

Thailand, Myanmar, and Cambodia are recognized as the top three countries with the highest solar potentials, while Myanmar, Vietnam, and Thailand rank as the top three for potential wind capacity in the region.

The report also added that several new policies that can accelerate growth in Southeast Asia, including Vietnam’s auction mechanisms, Malaysia’s green electricity tariffs, and Thailand’s incentives for rooftop solar installations.

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