Transitioning to renewable energy, renewable energy is not easy
On August 8 in Hanoi, the Vietnam Institute of Economics in collaboration with the Business and Trade Magazine organized a scientific conference with the theme "Promoting the development of green energy: Current status and implementation solutions" to evaluate the current status, opportunities, difficulties, and challenges in the process of transitioning from fossil energy to green energy.
In his speech at the conference, Dr. Pham Anh Tuan - Deputy Director of the Vietnam Institute of Economics - noted that green energy, also known as renewable energy, is a type of energy generated from natural resources that are not limited or can be replenished in a short period compared to the time it is used.
According to Dr. Pham Anh Tuan, green energy not only helps ensure the energy needs of each country but also provides an important solution to respond to the ongoing global climate change.
Developing green energy, transitioning energy, and reducing emissions are inevitable trends that cannot be reversed, and Vietnam cannot stand outside, and it is also an opportunity for development, restructuring the economy towards green, clean, and sustainable development.
On October 1, 2021, the Prime Minister approved the National Strategy for Green Growth 2021-2030, Vision 2050 (Green Growth Strategy). The Green Growth Strategy focuses on exploiting and using energy efficiently, effectively, increasing the use of renewable energy, green energy.
The Electricity Development Plan VIII, approved in 2023, also confirms the priority of developing renewable energy sources to serve power generation, which is expected to reach a ratio of around 30.9-39.2% by 2030, and by 2050, the ratio of renewable energy is expected to reach 67.5-71.5%.
At the same time, Vietnam has committed to achieving net-zero emissions by 2050 at the 26th United Nations Climate Change Conference (COP26), demonstrating Vietnam's commitment and determination to building a sustainable development path, with the main goal of creating a clean and safe environment for future generations.
“However, transitioning to green energy, renewable energy is not easy. The systems providing green energy require very large investments. In addition, the technology in producing and storing green energy still has many limitations and difficulties in ensuring stable energy supply.” - Dr. Pham Anh Tuan emphasized.
Focusing on producing and using renewable fuels
The conference "Promoting the development of green energy: Current status and implementation solutions" featured the participation of speakers, commentators, and leading economists of the country.
Sharing at the conference, Prof. Dr. Le Anh Tuan - Chairman of the Board of Directors of the Hanoi University of Science and Technology - noted that to contribute to promoting the development of green energy, we must now plan land for cultivation, focus on producing and using renewable fuels, focus on biomass power generation and pay attention to energy storage because we have a strong advantage in hydropower.
In addition, we are orienting towards solar power and wind power. If energy organization and technology do not develop, the value of solar power brought to the power system will not be high. At the same time, we also need to focus on carbon recovery and storage technology.
Discussions at the conference also presented scientific and practical arguments for proposing key and breakthrough solutions for the process of transitioning from fossil energy to green energy, renewable energy, and creating a complete and synchronized ecosystem for the above process.
In addition, it also mentioned the potential, trends, and some fields and industries, creating a driving force for green transition in Vietnam (Hydrogen, electric vehicles, carbon credit market, green finance...).
At the same time, it also identified the shortcomings, limitations, bottlenecks, and obstacles in terms of mechanisms, policies, and organizational management that need to be addressed and identified the root causes of the problem that is hindering the current green energy transition and green economy.
