Why this is important to Wisconsin businesses: Wisconsin’s expansive experience with solar power could put exporters in a good position to provide products, services, and expertise.
Vietnam and Singapore offer potential opportunities for Wisconsin companies in the solar energy sector.
Vietnam is emerging as a solar leader in Southeast Asia, with more than 18.6 gigawatts (GW) of solar photovoltaic (PV) capacity installed as of 2023—about 1.2% of the total global capacity, according to REN21, a global network of renewable energy stakeholders.
The government launched its $135 billion National Power Development Plan VIII in 2023 that aims to supply at least 31% of the country’s energy demand with renewable energy sources by 2030.
The plan encourages rooftop solar PV development. By 2030, 50% of office buildings and residential houses in Vietnam could be equipped with rooftop solar PV panels for on-site use. Battery storage is an important part of the plan, with a targeted capacity of 300 megawatts by 2030.
Singapore, with dense population and limited available land, is exploring innovations such as floating solar farms and vertical installation of photovoltaics onto buildings. The goal is to provide at least 2 GW of solar power by 2030 and to cut carbon emissions in half by 2050.
After a test run with a small floating solar farm showed the system performs better than rooftop solar, a huge, 60 MW project will be built at the Tengeh Reservoir, integrating water treatment with electricity production. It is expected to generate about 6% of Singapore’s annual energy needs.
The Singapore Green Plan 2030, introduced in 2021, calls for quadrupling the country’s solar energy use by 2025, reducing landfill waste by 30% by 2030, making 20% of schools carbon neutral by 2030, and planting 1 million more trees.
Wisconsin companies can take advantage of opportunities related to these efforts through projects such as:
• Energy storage solutions with the latest battery technology
• Smart grid development that can manage distributed energy resources effectively
• Rooftop solar panels and solar installations in industrial parks
• Providing advice on large-scale solar projects to help Vietnam meet its goal of becoming a power exporter
• Offering next-generation PV solutions for small spaces in Singapore
• Solar-based charging stations for electric vehicles
Wisconsin exporters are also encouraged to consider collaborating with entities in Vietnam and Singapore on research and development for new products that could benefit the specific needs of those countries.
