As energy demand continues to rise and domestic sources of fossil fuels for electricity generation become increasingly scarce, ensuring national energy security has become a pressing issue that requires a long-term vision.

The government says that no developed country considers solar panels as hazardous waste. It has proposed collecting and treating expired solar panels.

While investment in renewable power was 480 percent higher than planned, investment in thermal power sources only neared 60 percent, according to a government report.

Wind and solar power investors continued to voice their grievances over difficulties in price negotiations and extending project deadlines with the Power Trading Company (EVNEPTC), a subsidiary of Vietnam Electricity (EVN) Group.

The newest draft of the eighth national power development plan (PDP 8) sets priorities for the development of renewable power, which has been applauded by international institutions.

With the 3 percent retail electricity price increase from VND1,864.44 per kwh to VND1,920.3732 per kwh, commencing from May 4, EVN will have VND8 trillion more from now to the end of 2023.

Renewable energy companies in the country have recently proposed the Government remove regulatory bottlenecks faced by their solar and wind power projects, reported the local media.

The future for investors of wind power projects remains unclear.

Many rooftop solar power investors have been told to submit construction permits to legalize their projects.

Legislation for renewable energy could become the corridor to draw in more resources and assist Vietnam’s energy industry in overcoming its low level of development.

The ministry late last week held a press conference announcing the results of the inspection of EVN’s electricity production costs in 2021 and 2022.

Wealthy foreign investors in energy are expanding their long-term strategies in Vietnam while many ongoing projects that missed the feed-in tariff deadline are struggling to find a revenue balance.

In 2017-2021, Vietnam saw a boom in solar and wind power development. After 2021, development, however,  slowed down as the pricing policy remained unclear.

Four Japanese banks are set to co-finance a total of US$300 million to provide credit lines to power producers using renewable energy in the nation as part of efforts to help the growing country in its decarbonising process.

Dr Le Hai Hung says renewable power plants occupy much land, but environmental concerns remain controversial, and in the next 10 years, it will not be a reliable energy source for business production and people’s daily life.

The Ministry of Industry and Trade has requested the Vietnam Electricity Group (EVN) to complete pricing talks on solar and wind power with investors before March 31 to put 85 power plants into operation.

The Ministry of Industry and Trade has urged the Electricity of Vietnam (EVN) and investors of transitional solar and wind plants to negotiate and agree to fix electricity prices before March 31.

“You would feel tormented if you saw a vast field of wind turbines, each of which is worth VND150 billion, standing still for the last year,” a renewable-energy investor said.

Investors of numerous renewable energy projects demanded solutions to resolve pricing issues in a meeting with Vietnam Electricity (EVN) on Monday.

Investors have repeatedly complained that prices for clean power are too low, but the Ministry of Industry and Trade (MOIT) has said the prices for wind and solar power were set after suggestions by an independent consultancy council.