Viet Nam Energy Outlook Report 2023 shows that the country is working steadfastly to reach net zero by 2050. Simultaneously, the country faces the challenge of a fast-growing economy and a huge increase in electricity demand.
One of the keys to this successful development is strategic energy planning. Subsequently, the Vietnamese government uses the TIMES-Vietnam energy systems model and the Balmorel-Vietnam for decision-making.
We have supported the development of the TIMES-Vietnam model for almost 10 years through our engagements in the Partnership Programme between Viet Nam and Denmark, headed by the Danish Energy Agency.
Regarding the Outlook Report, we have developed scenarios for the analyses. We have also assisted the Vietnamese authorities in building up their planning capacities. To this end, we have updated the technology catalog. The catalog has been integrated into the TIMES-VNM model. It includes technologies not yet being used in Viet Nam.
Some of the key takeaways of the Viet Nam Energy Outlook Report are
• The green energy transition is cost-efficient for Viet Nam
• A steady increase in renewable energy investments is required from today
• Energy efficiency is a cost-effective option to reach the net-zero target
Duration: March- December 2023
EML Team: Kenneth Karlsson, Ida Græsted Jensen &Till ben Brahim
Client: Danish Energy Agency
Total budget: DKK 572.288
Reference: Giada Venturini, Danish Energy Agency
Collaborators: Electricity and Renewable Energy Authority (EREA, Vietnam), Hanoi University of Science and Technology, and E4SMA
Model: TIMES-VNM