The Vietnamese government has approved a plan to develop renewable energy generation, including rooftop solar for residential and commercial premises.

The plan aims to ensure national energy security and provide the Southeast Asian country with sufficient power supply to achieve the goal of socio-economic development. It is estimated that Vietnam's GDP will grow at an average annual rate of approximately 7% between 2021 and 2030.

According to the plan, by 2030, 50% of office buildings and residences will use self-generated rooftop solar power for on-site consumption. The electricity generated will not be sold to the national electricity system.

Other parts of the plan include the development of new power sources and grids. The government estimates that the program will cost a total of $134.7 billion.

In recent years, Vietnam has accelerated the pace of renewable energy transformation. The Just Energy Transition Partnership (JETP), a G7 initiative, has agreed to support Vietnam’s green energy transition and mobilize an initial US$15.5 billion in public and private funding over the next few years.

This mechanism may help Vietnam solve the problems it has encountered in solar power generation in recent years, after the prosperity of Vietnam in 2018-2020 came to an abrupt halt due in part to grid capacity problems.

In addition, Vietnam is one of the beneficiaries of the Global Energy Alliance for People and Planet to accelerate clean energy transition and access. Priority plans include support for battery storage systems in Vietnam.