Vietnam household energy storage field prospects

How can Vietnam improve its energy system?

Vietnam's energy system is in a state of transition too, with the government seeking to balance the need for economic growth with the need to reduce GHG emissions and increase renewables. Under the current scheme, the only options for further renewables development involve additional solutions such as storage.

Will Vietnam build a better energy future?

Building a cheaper, cleaner, and more secure energy future for Vietnam will not happen overnight. Other markets further along in development of renewable power greatly benefited from the support of the government.

Why should Vietnam pursue a renewables-led path?

Without significant new capital investment and a shift in resource mix, Vietnam’s power system will be at risk. This is a watershed moment for Vietnam. Renewables are the lowest-cost option for Vietnam to meet its energy needs. Pursuing a Renewables-Led Pathway offers the country the prospect of less expensive, cleaner, and more secure energy.

Can renewables help Vietnam meet its energy needs?

Renewables have the potential to become the lowest-cost option for Vietnam to meet its energy needs. Vietnam’s power system is at an inflection point. Over the past five years, load has increased at an average of about 10 percent a year, a staggering pace.

Could solar power boost Vietnam's industrial development?

The World Bank ( 2021) suggested that a target of 10 GW by 2030 and 25 GW by 2035 would likely drive Vietnam’s industrial development and help the country meet its emissions targets. Abundant sunshine makes it an attractive location for solar, particularly in the south, with potential estimated at 12–15 GW.

Is there a market for renewable solar and wind power in Vietnam?

The market for renewable solar and wind power in Vietnam remains in its infancy, even though Vietnam manufactures 3.4 gigawatts annually for export to Europe and the United States.