https://statbase.org/data/vnm-coal-imports/
It also started importing liquid natural gas in 2023.
But it has abundant sunlight, access to low cost Chinese solar panels that will produce electricity for decades instead of being burned once, and a substantial domestic photovoltaic manufacturing industry of its own.
"Renewable Energy Investments in Vietnam in 2024 – Asia’s Next Clean Energy Powerhouse" (June 2024)
https://energytracker.asia/renewable-energy-investments-in-v...
In 2014, the share of renewable energy in Vietnam was just 0.32%. In 2015, only 4 megawatts (MW) of installed solar capacity for power generation was available. However, within five years, investment in solar energy, for example, soared.
As of 2020, Vietnam had over 7.4 gigawatts (GW) of rooftop solar power connected to the national grid. These renewable energy numbers surpassed all expectations. It marked a 25-fold increase in installed capacity compared to 2019’s figures.
In 2021, the data showed that Vietnam now has 16.5 GW of solar power. This was accompanied by its green energy counterpart wind at 11.8 GW. A further 6.6 GW is expected in late 2021 or 2022. Ambitiously, the government plans to further bolster this by adding 12 GW of onshore and offshore wind by 2025.
These growth rates are actually much faster than growth rates in the US.
In developed countries 20-50% of the cost of roof top solar is labor.
The general premise of investments is that you end up with fewer resources by not doing them.
It now costs less to install a new solar or wind farm than to continue using an existing coal plant, much less if you were considering building a new coal plant, and that includes the cost of capital, i.e. the interest you have to pay to borrow the money for the up-front investment.
Poorer countries would be at a slight disadvantage if they have to pay higher than average interest rates to borrow money, but they also have the countervailing advantage of having lower labor and real estate costs and the net result is that it still doesn't make sense for anybody to continue to use coal for any longer than it takes to build the replacement.
It just takes more than zero days to replace all existing infrastructure.
Acting like this blunder is some random stroke of bad luck isn't telling the whole story.
I'm sure there's some degree of vested interest in protecting fossil energy because it means very concentrated profits in a way that renewables do not. Sunlight isn't owned by anybody (modulo Simpsons references) and nor is the Wind, but I'd expect that, if that was all it was, to manifest as diverting funding to transitional work, stuff that keeps $$$ in the right men's pockets, rather than trying to do a King Canute. Stuff like paying a wind farm not to be constructed feels very Trump-specific.
† The British even know what you do with kings who refuse to stop breaking the law. See Charles the First, though that's technically the English I suspect in this respect the Scots can follow along. If the King won't follow the Law, kill the King, problem solved.
EDIT: I think people are misunderstanding my response. I fully support local subsidies for solar and renewables. My question is why my tax dollars should go toward making it affordable for everyone, including non-Americans. Either market dynamics will handle that naturally, artificially (i.e., China's manufacturing subsidies), or else it is up to the local government to address the shortfall.
[1] https://www.bbc.com/news/business-20247734 (2012)
Or do you think that US federal investment in solar and battery technology would be bad for the American taxpayer?