How big is Vietnam solar panel market?

For further assistance, please connect with our analysts. Vietnam solar panel market size reached 1.2 Gigawatt in 2024, the market expected to reach 2.4 Gigawatt at a CAGR of 7.87% during 2025-2033.

Who makes solar panels in Vietnam?

In particular, the company produces monocrystalline and polycrystalline solar panels with current capacities that range from 3W to 320W. Located in the suburban area of Ho Chi Minh City, Vietnam, Solar Power Vietnam makes use of solar cells from Solar World (Germany) and Suniva (the U.S.A.).

Does Vietnam have a solar power industry?

Vietnam’s solar power industry has grown rapidly since 2017, driven by generous feed-in tariffs and strong government support. The country now has one of the highest installed solar capacities in Southeast Asia, contributing significantly to its renewable energy goals. 2. What challenges is Vietnam’s solar power sector facing?

How much solar power does Vietnam have?

This included 16 billion kWh from solar power and 7.3 billion kWh from wind energy, according to data from Vietnam Electricity. Solar power, in particular, has seen significant expansion due to the implementation of feed-in tariffs and the increasing adoption of rooftop solar systems.

How is solar energy regulated in Vietnam?

Vietnam’s solar power sector is governed by a number of key regulations and policies aimed at promoting the development of renewable energy while managing the challenges associated with rapid growth.

Why is Vietnam a good place to invest in solar energy?

The sunny quality of Vietnam’s climate is actually a good sign right now because it means that this country can be a place where the solar industry can thrive. And the solar industry will thrive because there is already a growing demand for renewable energy nowadays and solar is arguably the most popular choice for renewable energy.