Developing new energy: 5 key solutions to remove "bottlenecks"

At the "Energy Technology Forum in the New Era" held on July 29, experts pointed out many challenges in the energy industry and proposed key contents to promote the development of renewable energy and new energy technologies.

According to the Ministry of Industry and Trade , Vietnam's electricity demand is expected to increase by 8-10% per year in the next decade. Meanwhile, domestic primary energy sources such as hydropower, coal, and oil and gas are gradually depleted. This leads to dependence on imported fuel sources.

At the forum organized by Vietnam Economic Magazine VnEconomy on July 29, Dr. Phan Xuan Dung emphasized some of the challenges facing the energy sector. He pointed out that energy security remains a challenge as domestic primary supplies are increasingly depleted. The transition to cleaner energy sources still faces many obstacles. The legal framework and policy mechanisms need to continue to be improved quickly to attract investors.

Overview of the forum. (Photo: Tin Tuc and Dan Toc Newspaper)

Meanwhile, the level of domestic science and technology, especially the ability to localize equipment for the renewable energy industry, is still limited.

Dr. Phan Xuan Dung also added: "We still depend heavily on foreign technology and experts, which not only increases investment costs but also poses risks to technological security as well as the country's sustainable development."

Speaking at the forum, Dr. Ta Dinh Thi, Vice Chairman of the National Assembly's Committee for Science, Technology and Environment, said that switching to renewable energy and new energy is an inevitable path. This is a solution to ensure energy security, sustainable economic development and environmental protection, realizing Vietnam's commitment to achieving net zero emissions by 2050 at COP26.

To promote this process, Dr. Ta Dinh Thi proposed 5 key contents:

Regarding renewable energy development. It is necessary to focus on effectively exploiting the potential of wind power, solar power and biomass power. It is necessary to attract private and international investment through preferential and transparent mechanisms.

With future energy technology. It is necessary to research the application of green hydrogen, green ammonia, energy storage systems and carbon capture technology. Along with that is the application of atomic energy, the development of nuclear power.

Regarding smart grid. It is necessary to modernize the grid and increase the application of artificial intelligence (AI) and digital transformation for efficient operation.

Regarding institutional improvement. It is necessary to continue removing "bottlenecks" in the electricity price mechanism, investment incentives and green finance.

Finally, regarding the development of the energy industrial ecosystem, Vietnam needs to train high-quality human resources, improve the capacity of domestic enterprises to localize, master technology and aim for export.

Dr. Phan Xuan Dung affirmed: "Energy transition is a challenging journey, but it is an irreversible trend, an inevitable path for Vietnam towards a prosperous and sustainable future."

Source: https://thoidai.com.vn/phat-trien-nang-luong-moi-5-giai-phap-trong-tam-go-diem-nghen-215173.html