Boosting renewable energy development  Energy is indispensable to economic development and national industrialization and modernization. But The Ministry of Industry and Trade’s (MoIT) Energy Institute, warns the total energy needed for trading activities will reach 78.8–83.6 million tonnes of oil equivalent (TOE) by 2020 and 152–175 million TOE by 2030. The 2020 demand is around 2.2–2.4 times higher than current levels. The coal industry’s plans suggest a production output of less than 72 billion kWh per annum, even between 2025–2030. Offshore gas sources could fuel electricity production exceeding 100 billion kWh per year as well as 3–5 percent of the gas volume required for other industrial sectors. Crude oil output is estimated at an annual 17–18 million tonnes but is expected to ebb after 2015. Coal shortages are expected in a magnitude of 5.8 million by 2015, 25 million by 2016, and 66 million by 2020. This will necessitate compensatory coal imports from 2015 onwards. Electricity demand could surge by as much as an annual 15–20 percent. If Dependence on imported energy will become a major issue over the next 10–15 years. Experts warn Energy consumption is growing at the double the rate of Obsolete technology, outdated equipment, aging infrastructure, and poor management all contribute to Energy shortages already force Most other countries get their electricity from coal, oil, and gas, with less than 20 percent created using hydropower. Half of The national energy strategy should focus on adjusting energy policies and consumer behaviours, upgrading technology, encouraging business investment, improving pricing and tax information, and ensuring energy is still accessible for the disadvantaged. The Vietnam Energy Association has asked the Government to finalize its 2011–2020 plans for the energy sector and include a vision towards 2030 so that the industry can be guided by set targets. A decree encouraging and promoting the development of renewable energy is of the utmost importance. A Renewable Energy Law should be prepared for submission to the National Assembly. The energy sector needs to expand its exploration of domestic and foreign energy sources and research renewable energy strategies to limit pollution and protect the environment. Other priorities include keeping energy prices at reasonable levels and increasing competition within the energy market itself. VOV |
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