Solar could help Vietnam avoid almost USD 600 million from coal and gas imports as Iran war drives up energy prices

Vietnam's solar power generation helps the country avoid approximately USD 594 million in fossil fuel import costs during the current energy price surge driven by the Iran war. While Vietnam leads Southeast Asia in solar and wind shares, it continues to prioritize coal and gas in its long-term power planning, increasing its vulnerability to global price shocks.

• Vietnam's solar generation allows the country to avoid USD 594 million (approximately VND 15.6 trillion) in coal and gas imports, based on benchmark prices from the first week of March 2026. This total consists of USD 545.4 million from coal and USD 49.3 million from gas.
• Vietnam has the highest share of renewable power in Southeast Asia, with solar and wind accounting for about 13% of total power generation in 2024 (38.7 TWh), whereas other ASEAN-5 countries remained under 5%.
• A feed-in tariff policy implemented in 2017 drove a nearly 600-fold increase in solar capacity, growing from 28 MW in 2017 to 16.7 GW by 2020, with rates ranging from USD 0.935 per kWh to USD 0.838 per kWh.
• Despite solar growth, Vietnam's energy security remains vulnerable as it prioritizes fossil fuels; coal made up 50.3% of generation in 2024, and the revised Power Development Plan (PDP8) aims for 22.4 GW of LNG-fired power by 2030.
• Vietnam launched a pilot Emissions Trading Scheme in June 2025, running until the end of 2026, targeting thermal power, steel, and cement industries which represent about 40% of national emissions.

APA

Kong, A. (2026). Solar could help Vietnam avoid almost USD 600 million from coal and gas imports as Iran war drives up energy prices. Zero Carbon Analytics. https://zerocarbon-analytics.org/insights/briefings/solar-could-help-vietnam-avoid-almost-usd-600-million-from-coal-and-gas-imports-as-iran-war-drives-up-energy-prices/

Chicago

Kong, Amy. Solar could help Vietnam avoid almost USD 600 million from coal and gas imports as Iran war drives up energy prices. Zero Carbon Analytics, 2026. https://zerocarbon-analytics.org/insights/briefings/solar-could-help-vietnam-avoid-almost-usd-600-million-from-coal-and-gas-imports-as-iran-war-drives-up-energy-prices/.

Wikipedia

{{cite report |last1=Kong |first1=Amy |title=Solar could help Vietnam avoid almost USD 600 million from coal and gas imports as Iran war drives up energy prices |publisher=Zero Carbon Analytics |date=16 March 2026 |url=https://zerocarbon-analytics.org/insights/briefings/solar-could-help-vietnam-avoid-almost-usd-600-million-from-coal-and-gas-imports-as-iran-war-drives-up-energy-prices/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{kong2026solar, author = {Kong, Amy}, title = {{Solar could help Vietnam avoid almost USD 600 million from coal and gas imports as Iran war drives up energy prices}}, institution = {Zero Carbon Analytics}, year = {2026}, month = mar, url = {https://zerocarbon-analytics.org/insights/briefings/solar-could-help-vietnam-avoid-almost-usd-600-million-from-coal-and-gas-imports-as-iran-war-drives-up-energy-prices/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }