Norwegian consultancy Rystad Energy has placed the Australian and Vietnamese solar markets side by side and found the Southeast Asian country left its rival trailing in terms of commissioned utility scale PV capacity. A staggering 4.46 GW of connected PV capacity in Vietnam at the end of June came as a surprise to many.
As developers scrambled to meet the end of June deadline to tap a generous feed-in tariff scheme, Vietnam saw unprecedented activity in its utility scale solar market, with multi gigawatts of PV capacity connected to the grid. While Australia and Vietnam have been progressively expanding over 12 months, the latest tally showed the Southeast Asian country had overtaken Australia for operating utility scale solar PV capacity…more than 60% of that capacity was commissioned last month, Rystad found. The average time for construction and commissioning in Vietnam was an astonishing 275 days. “Few would have predicted Vietnamese utility PV to exceed Australia’s by mid-year,” said David Dixon, senior analyst on Rystad Energy’s renewables team. “The commissioned capacity in Vietnam has exceeded our high case.”