As Vietnam experiences steep increases in energy demand and rising air pollution, there is a growing need for cleaner, more reliable sources of energy. Developing renewable energy sources requires greater capital investment. The U.S. Agency for International Development’s (USAID) Vietnam Urban Energy Security project works closely with the Government of Vietnam (GVN) to catalyze clean energy solutions to urban energy challenges.
IMPROVING POLICIES AND REGULATIONS
The project supports Vietnam to harmonize national strategies, policies, and regulations that encourage the deployment of cost-effective clean energy. This includes drafting regulations and standards for rooftop solar or electric vehicle charging, facilitating professional exchanges, and creating a national network of experts.
MOBILIZING PUBLIC AND PRIVATE SECTOR INVESTMENT
The project works with the GVN, private enterprises, and financial institutions to facilitate energy efficiency gains and develop and deploy new sources of renewable energy. The project also builds innovative partnerships to overcome key challenges in clean energy financing.
INCREASING ADOPTION OF INNOVATIVE SOLUTIONS
The project provides funding and technical assistance for innovative solutions that address urban energy and environment issues. The project supports both early stage activities that are testing new approaches and developed projects ready for commercialization. The project shares knowledge and data generated through its activities widely to increase the broader energy community’s understanding of the best approaches to improve Vietnam’s urban energy security.
The project is expected to facilitate the deployment of 400 megawatts of renewable energy generation and mobilize $600 million in new investment for clean energy. An Innovation Challenge Fund created by the project is expected to support 20 clean energy solutions with seed funding and customized assistance.
The project works at the national policy level and focuses work in Ho Chi Minh City and Danang.