It’s no secret that renewable energy development in developing countries is on the rise. In its most recent report on renewable energy investment, the UN states that investment in renewables in developing countries has grown over ten-fold – from USD 8 billion to USD 89 billion in the past eight years. When taking advantage of solar resources, the clear choice – assisted by large recent reductions in capital cost - has been for solar photovoltaic technologies (Solar PV).
Brazil, China, India, Indonesia, Mexico, Poland and South Africa are among the world’s largest emerging economies. And in the past five years, all have made substantive shifts towards lower-carbon growth strategies – shifts that are still underway. In 2007, these countries represented 33 percent of global CO2 emissions. By 2010, three of them – Brazil, China and India – accounted for over 40 percent of global investment in renewable energy.
Vietnam has been one of the world’s fastest-growing economies over the past three decades. Along with that growth has come the expansion of energy-intensive sectors such as manufacturing, transport and power generation. Given the country’s dependence on fossil fuels, Vietnam’s total greenhouse gas emissions have more than doubled over the past decade, and are expected to triple by 2030. Although per capita CO2 emissions are still low, Vietnam has the 20th highest carbon intensity in the world.