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The incentive to use 100% renewable energy is created by global warming and ecological as well as economic concerns, post peak oil. Share of electricity production from renewables, 2023 [46] The first country to propose 100% renewable energy was Iceland, in 1998. [47] Proposals have been made for Japan in 2003, [48] and for Australia in 2011. [49]
According to the Decision 2068/QD-TTg [66] on Approving the Viet Nam's Renewable Energy Development Strategy up to 2030 with an outlook to 2050: The rate of urban solid waste for energy targets is expected to increase up to 30% by 2020, and approximately 70% by 2030. Most urban solid waste will be used for energy production by 2050.
Vietnam had the fastest growth in coal use in Southeast Asia during 2011-2021, at an annual growth rate of 11%. [4]Data of the Ministry of Industry and Trade (MOIT), 10 months of 2018 coal production was estimated at 34.35 million tons, up 10% over the same period in 2017, of which clean coal output of Vinacomin (TKV) was 29.6 million tons, up 10.9% over the same period last year. [5]
China produced 31% of global renewable electricity, followed by the United States (11%), Brazil (6.4%), Canada (5.4%) and India (3.9%). [1] Renewable investment reached almost $500 billion globally in 2022, [2] amounting to 83% of new electric capacity that year. [3] The renewable energy industry employs almost 14 million people. [4]
Renewable energy often displaces conventional fuels in four areas: electricity generation, hot water/space heating, transportation, and rural (off-grid) energy services. [22] Although almost all forms of renewable energy cause much fewer carbon emissions than fossil fuels, the term is not synonymous with low-carbon energy.
Infection rates dropped and stabilised throughout 2022 and 2023, leading to the end of COVID-19's classification as a severe transmissible disease in June 2023. [ 22 ] Although the pandemic has heavily disrupted the country's economy , [ 23 ] Vietnam's GDP growth rate has remained one of the highest in Asia-Pacific , at 2.91% in 2020.
Net-zero and 100% renewable energy global goals create market opportunities for renewable industries such as solar and wind energy and lithium-ion batteries. By 2050, it’s estimated that the renewable market will reach a value of one trillion dollars, the same size as the current oil market.
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