For sustainable socio-economic development, while minimizing the impact of climate change, electrification and emission reduction are global priorities in 2023.
Private sector and government will work together to achieve both goals: increasing access to electricity and reducing emissions in the energy, transport and industry sectors.
Access to stable, affordable and sustainable electricity is a top priority. Currently, nearly 775 million people do not have access to electricity, and the sharp increase in demand is raising many questions about the safety of the electricity supply.
Many countries are facing energy challenges. Electricity demand is forecast to grow 15-20% per year until 2030. And at the same time, greenhouse gas and carbon emissions targets must be met.
First of all, it is essential that countries’ access to electricity is a sustainable development benefit, and it is necessary to establish an appropriate electrification roadmap such as: building a modern distribution network, electricity combined with energy storage.
In other parts of the world, the issue is not just grid resilience but building the grid first. These new grids can feature world-class digitalization and resilience systems that outperform legacy transmission and distribution infrastructure.
Building a modern grid system will facilitate the achievement of the second priority: progress on emissions reduction targets. Vietnam, like the US and many other countries, is aiming for net zero emissions by 2050.
Short-term emissions reduction progress depends on investing in a portfolio of renewable energy, high-efficiency gas power and advanced nuclear power to both reduce emissions and increase electricity generation. While increasing support for nuclear and hydropower both facilitates electricity generation and reduces greenhouse gas emissions, all of these technologies contribute to decarbonization priorities.
For countries like Vietnam, the challenge also includes having enough power reserves to connect to the renewable energy grid on a large scale as well as developing transmission capacity – an indicator that has not kept pace with other sources. renewable electricity.
The world has entered the third year of a “decade of action” to tackle climate change, reinforcing the urgent need for progress. To advance electrification and emissions reduction goals, a transition from theoretical discussion to practical action is essential.
According to Doanhnhansaigon.vn