Vietnam Energy efficiency, Energy security and Sustainable development

Vietnam Energy efficiency, Energy security and Sustainable development

Energy transition – global trend

Energy is the driving force for maintaining all economic activities, ensuring the comfort needs and pursuit of happiness of people in society.

According to 2019 data from the International Energy Agency (IEA), the world is still using the same carbon-rich energy sources as two decades ago.

Responding to climate change by solutions: energy saving, efficient using, and renewable energy using. That is the responsibility of countries/regions all around the world.

However, governments are constantly facing with other priorities such as ensuring affordable energy supply, equal access to energy among all classes of society which are leading to the increase of the global energy consumption in recent years.

The importance and benefits of energy efficiency have been recognized and demonstrated across all important economic sectors, both in developed and emerging economies.

Governments are increasingly aware that energy efficiency measures can bring many benefits to the economy, including cost reductions, cleaner air, energy security, improving productivity and trade balance.

Energy efficiency is the ability of an energy system, device or service to deliver the same level of energy (same quantity and quality). While consuming less energy than other energy systems, devices or services of the same type or function.

For example, insulating a house allows a building to use less energy for heating or cooling, while still meeting the comfort needs.

Energy efficiency is the foundation for transitioning and moving towards a cleaner, safer and more sustainable energy future

Energy efficiency has an important role to play in aligning climate change response goals with other sustainable development goals, since energy efficiency is by nature oriented towards a transition to low carbon energy. Under a scenario that meets the Paris Agreement target, energy efficiency could result in a 35% CO2 emission reduction by 2050.

Promoting the implementation of energy efficiency solutions is not only about achieving climate change targets, but also to increase energy security, improve energy access and reduce air pollution.

Energy efficiency is a key solution in Vietnam’s energy planning and development

On March 13, 2019, the Prime Minister issued Decision No. 280/QD-TTg approving the National Program on economical and efficient use of energy for the period 2019-2030 with the goal of promoting economical and efficient energy use.

In the context of domestic fossil resources gradually depleting leading to dependence on imported fuels, the Vietnam National Assembly decided to suspend the construction of nuclear power plants, and face a number of shortcomings in the supplementing of renewable power sources into the national energy system. The research, application, development and replication of solutions for economical and efficient use of energy while minimizing environmental impacts in all 3 stages of production, energy conversion, transmission – distribution and consumption are essential. This is seen as a key solution to ensure energy security and sustainable development in Vietnam in the coming years.