Renewable energy is the energy exploited from water, wind, sunlight, geothermal power, sea tide, biological fuels and other renewable energy resources [1]

Renewable energy – powering a safer future

Energy is at the heart of the climate challenge – and key to the solution.

(Sources: https://www.wtsenergy.com/)

A large portion of the greenhouse gases that blanket the Earth are generated through energy production, primarily by burning fossil fuels to generate electricity and heat. Fossil fuels, such as coal, oil and gas, are by far the largest contributor to global climate change, accounting for over 75 percent of global greenhouse gas emissions and nearly 90 percent of all carbon dioxide emissions. To avoid the worst impacts of climate change, emissions need to be reduced by almost half by 2030 and reach net-zero by 2050[2].

To achieve this, we need to end our reliance on fossil fuels and invest in alternative sources of energy that are clean, accessible, affordable, sustainable, and reliable. Renewable energy sources –available in abundance all around us, provided by the sun, wind, water, waste, and heat from the Earth – are replenished by nature and emit little to no greenhouse gases or pollutants into the air. While fossil fuels still account for more than 80 percent of global energy production, cleaner sources of energy are gaining ground. Currently, about 29 percent of electricity currently comes from renewable sources.

Here are five reasons why accelerating the transition to clean energy is the pathway to a healthy, livable planet today and for generations to come.

Firstly: Renewable energy sources are all around us

About 80 percent of the global population lives in countries that are net-importers of fossil fuels — that’s about 6 billion people who are dependent on fossil fuels from other countries, making them vulnerable to geopolitical shocks and crises. In contrast, renewable energy sources are available in all countries, and their potential is yet to be fully harnessed. The International Renewable Energy Agency (IRENA) estimates that 90 percent of the world’s electricity can and should come from renewable energy by 2050.

Renewables offer a way out of import dependency, allowing countries to diversify their economies and protect them from the unpredictable price swings of fossil fuels while driving inclusive economic growth, creating new jobs, and alleviating poverty.

Secondly: Renewable energy is cheaper

Renewable energy is the cheapest power option in most parts of the world today. Thanks to advances in engineering and technology, the cost of renewable energy is becoming increasingly competitive with fossil fuels, some advances in science and technology such as:

Wind Turbines: Wind turbines are growing larger, with longer and more powerful blades that capture more wind energy and generate more electricity while reducing production costs. For example, the Vestas V164-9.5MW turbine features an 80-meter rotor diameter and can produce up to 9.5 megawatts (MW) of energy. These turbines utilize optimized blade designs with flexible materials and elongated shapes to enhance efficiency and perform well in varying wind conditions. This optimization minimizes energy losses due to blade twisting and bending, making wind power more reliable and cost-effective.

Solar Photovoltaics (PV): Ultra-thin solar panels, such as perovskite solar cells, represent a breakthrough in solar technology. These panels are lightweight, flexible, and highly efficient, enabling easier integration into various surfaces and environments. Sensors and artificial intelligence are employed to track the sun’s position and orient solar panels optimally, maximizing energy production throughout the day. Robots are also utilized in large-scale solar power plants to enhance accuracy and efficiency in panel placement and maintenance, reducing operational costs and labor requirements.

Energy Storage: Breakthroughs in battery technology, particularly lithium-ion batteries, have made energy storage systems more efficient and affordable. This allows renewable energy sources like solar and wind to provide reliable power even when the sun isn’t shining, or the wind isn’t blowing.

Grid Integration Technologies: Smart grid technologies, including advanced forecasting tools and demand-response systems, help optimize the integration of renewable energy into existing power grids. This improves grid stability and reduces the need for backup power from fossil fuels.

The advancements in wind and solar technologies have led to substantial cost reductions in renewable energy production. Between 2010 and 2020, the cost of electricity from solar power plummeted by 85 percent, while onshore and offshore wind energy costs decreased by 56 percent and 48 percent, respectively. These falling prices have made renewable energy increasingly competitive and attractive globally, including in low- and middle-income countries.

With these cost reductions, renewable energy has the potential to supply 65 percent of the world’s total electricity by 2030 and decarbonize 90 percent of the power sector by 2050. This shift towards renewable sources promises to significantly reduce carbon emissions, mitigating climate change impacts. Moreover, the long-term economic benefits of renewable energy adoption include job creation, energy security, and reduced dependence on fossil fuel imports, fostering sustainable economic growth worldwide.

Thirdly. Renewable energy is healthier

According to the World Health Organization (WHO), about 99 percent of people worldwide breathe air that exceeds air quality limits, posing a threat to their health. Additionally, more than 13 million deaths worldwide each year are attributed to avoidable environmental causes, including air pollution.

Unhealthy levels of fine particulate matter and nitrogen dioxide primarily stem from the burning of fossil fuels. In 2018, air pollution from fossil fuels incurred $2.9 trillion in health and economic costs, equating to approximately $8 billion a day.

Transitioning to clean sources of energy, such as wind and solar, not only addresses climate change but also mitigates air pollution and improves public health.

Fourthly. Renewable energy creates jobs

Every dollar of investment in renewables creates three times more jobs than in the fossil fuel industry. The IEA estimates that the transition towards net-zero emissions will result in a net increase in energy sector jobs: while about 5 million jobs in fossil fuel production may be lost by 2030, an estimated 14 million new jobs could be created in clean energy. This represents a net gain of 9 million jobs.

Furthermore, energy-related industries would require an additional16 million workers, for example, in manufacturing of electric vehicles, hyper-efficient appliances , and innovative technologies like hydrogen. This suggests that by 2030, more than 30 million jobs could be generated in clean energy, efficiency improvements, and low-emissions technologies by.

Fifthly. Renewable energy makes economic sense

About $7 trillion was spent on subsidizing the fossil fuel industry in 2022, which includes explicit subsidies, tax breaks, and he unpriced health and environmental damages associated with fossil fuels.

In contrast, an estimated $4.5 trillion per year needs to be invested in renewable energy until 2030, encompassing technology and infrastructure investments, to achieve net-zero emissions by 2050.

The initial cost can appear daunting for many countries with limited resources, necessitating financial and technical support to facilitate the transition. However, investments in renewable energy are projected to yield substantial returns. By 2030, the reduction in pollution and climate impacts alone could save the world up to $4.2 trillion annually.

Moreover, efficient, reliable renewable technologies can create a system less prone to market shocks and improve resilience and energy security by diversifying power supply options.

(Sources: https://www.gedlingeye.co.uk/)

 

Electricity produced from clean energy sources is growing fast

The UN Climate Change Conference (COP26) took place from October 31 to November 12, 2021 in the UK, COP26 brought together the 197 parties. There were many significant deals, announcements and commitments at the COP 26, These include:  limiting methane emissions by 30 per cent by 2030, compared to 2020 levels ;  Countries reaffirmed the Paris Agreement goal of limiting the increase in the global average temperature and pursuing efforts to limit it to 1.5 °C above pre-industrial levels; At COP26, India committed to to achieving net-zero emissions by 2070; The UK, US and EU committed to achieving this goal by 2050; The US, Canada and 18 other countries pledged to end funding for all fossil fuel projects abroad by the end of 2022, shifting investment to clean energy. Canada and 18 other countries committed to end any support for fossil fuels flowing abroad by the end of 2022, and in its place prioritize finance for clean energy.

With the goals and commitments established at COP26, coupled with the benefits of renewable energy mentioned earlier, the transition to exploiting renewable energy sources for electricity production is inevitable. The share of electricity generated from clean energy sources continues to grow rapidly.

(Sources: International Energy Agency, Renewables 2023)

According to a report published Wednesday by Ember, a think tank based in London, billions of people are using different kinds of energy each day and 2023 was a record-breaking year for renewable energy sources — ones that don’t emit planet-warming pollutants like carbon dioxide and methane — according to a report published Wednesday by Ember, a think tank based in London. For the first time, 30% of electricity produced worldwide was from clean energy sources as the number of solar and wind farms continued to grow fast.

Of the types of clean energy generated last year, hydroelectric dams produced the most. That’s the same as in most years. Yet droughts in India, China, North America and Mexico meant hydropower hit a five-year low. Research shows climate change is causing droughts to develop more quickly and be more severe.

Solar made up the biggest share of new clean energy last year. It was the 19th year in a row that solar was the fastest-growing source of electricity generation. A surge in solar installations happened at the end of the year and the report predicts 2024 will see an even larger jump.

China added more renewable energy than any other country last year — 51% of the new solar power and 60% of the new wind power globally. China, the European Union, the United States and Brazil together accounted for 81% of new solar generation in 2023[3].

China was also responsible for 55% of coal generation globally and 60% of China’s electricity generation came from coal. The International Energy Agency says coal is the most carbon-intensive of fossil fuels. Scientists say emissions from burning fuels like coal must ramp steeply down to protect Earth’s climate, yet there was an increase in electricity made from burning fossil fuels. China, India, Vietnam and Mexico were responsible for nearly all the rises.

People used more electricity than ever last year, about 2% more, an increase of about as much as Canada uses in a year. Some of this new demand was for heat pumps, which are an efficient way to both heat and cool buildings, and for electric vehicles. It was also for electrolyzers, special machines used to get hydrogen out of water, for energy. These are all technologies that provide solutions to climate change. Other increased demand was for electricity to feed new data centers and for air conditioning as places around the world become hotter.

Although there are many great advantages, renewable energy also has some disadvantages, such as its strong dependence on weather conditions. Therefore, during bad weather, renewable energy technologies like solar cells may be less effective. Solar panels rely on sunlight to generate energy, functioning only during sunny days and not at night. They may also produce less power on cloudy days. Excess solar power can be transmitted to the electrical grid, potentially causing instability and safety issues in grid operations. In the case of wind energy, turbines generate electricity effectively within a wind speed range of 4-25 m/s. They begin generating electricity at a minimum wind speed of 4 m/s, but speeds exceeding 25 m/s can cause the turbines to shut down. Additionally, the high initial cost of renewable energy is another disadvantage. However, ongoing advancements in science and technology are helping to reduce costs and increase efficiency, gradually mitigating this drawback.

To achieve the goal of reducing greenhouse gas emissions and ensuring energy security to meet growing global demand, countries should prioritize investment in the development, exploitation, and efficient utilization of renewable energy for electricity production. Simultaneously, there should be a strategic focus on gradually reducing electricity generation from coal and effectively managing the use of fossil fuel energy.

Potential for development of renewable energy industry in Vietnam

Renewable energy development is a major policy of the Party and State which has been concretized in the Resolution 55 of the Politburo to the Prime Minister’s decisions approving the renewable energy development strategy and mechanism for development of renewable energy projects. At COP26, Prime Minister Pham Minh Chinh committed to achieving net-zero emissions by 2050.

According to Power Plan 8, Vietnam is aiming to gradually phase out coal power generation by 2050 and increase solar power installation capacity to 34%, up from 23% by 2022. The power plan also forecasts the Energy storage will increase to 300 MWh by 2030 and 26 GWh by 2050. In 2023, Vietnam’s total renewable energy production capacity will reach 21,6 GW. Although Vietnam is currently leading Southeast Asia in installed solar power capacity, the potential is still huge.[4]

Vietnam’s electricity production in the first quarter of 2024. (Sources: EVN)

Vietnam is also on the list of countries with great potential to invest in new renewable energy sources such as solar power wind power, biomass electricity, dual-sea electricity and Biogas in addition to available energy sources such as Liquefied Natural Gas, Hydroelectricity and coal power.

Vietnam has a coastline of more than 3260 km, with an average wind speed of 7 m/s. The Central Highlands, Southern and South-Central provinces have an average high solar radiation of 1,387-1,534 Kwh/KWp per year. This is a natural advantage that creates a great attraction in terms of investment in wind and solar power in these provinces. In addition to the advantages of wind and solar radiation, with a large forest area, in Ca Mau alone, the amount of exploitation and wood preparations reaching about 225,000-300,000 tons per year is also a great potential for biomass power development. It is estimated that by 2030, Vietnam will need $12 billion to invest in new electricity sources. With the potential for development of renewable energy, from 2018 until now, the renewable energy industry has witnessed strong development in investment in and production of renewable energy (especially wind power and solar power projects); The proportion of electricity produced from renewable energy sources (including grid-connected solar power, wind power, biomass energy and hydropower) is increasing rapidly.

Currently, the total capacity of large and small-scale renewable energy and hydropower plants in Vietnam is 43,126 MW, accounting for 55.2% of the total power capacity in Vietnam (78,121 MW). This includes 4,126 MW from wind power, 7,660 MW from rooftop solar, 8,904 MW from solar farms, 22,111 MW from hydropower, and 325 MW from biomass. However, renewable energy still accounts for a relatively low proportion, about 9% of the country’s total primary energy supply (2020) and primary energy supply still depends mainly on coal ( accounting for 51% in the same year).

The development of renewable energy sources in Vietnam not only addresses energy security concerns and reduces greenhouse gas emissions but also contributes significantly to sustainable development goals. By investing in renewable energy infrastructure, Vietnam can create new employment opportunities, particularly in rural areas where resources like solar and biomass are abundant. These projects promote economic growth while minimizing environmental impact, supporting biodiversity conservation and improving energy access for underserved communities. Moreover, renewable energy development aligns with Vietnam’s commitment to achieving net-zero emissions by 2050, positioning the country as a proactive participant in global climate action efforts.

 

Sources: from national and international websites

[1] Law on environment protection 2014

[2] https://www.un.org

[3] Electricity From Clean Sources Reaches 30% of Global Total (usnews.com)

[4] https://vneconomy.vn