On August 17, 2023, at a seminar jointly organized by the Vietnam Electricity Regulatory Authority and the Danish Embassy, Tran Tue Quang, deputy director of the Electricity Regulatory Authority, expressed concern about the increasing penetration of renewable energy sources such as wind and solar energy in the national power system. He highlighted the challenges this growing trend brings to power system operations and stressed the need for flexible solutions, one of which is the development of battery energy storage systems (BESS).

Vietnam Renewable Energy Vision: Solar Energy Becomes Economic Engine to Achieve Clean Electricity Goals

The Vietnamese government has set a renewable energy target to achieve a share of at least 30.9% in the grid by 2030, phase out coal-fired power generation by 2040, and achieve net-zero emissions by 2050. However, these goals face challenges posed by rapid economic growth and rising electricity demand. To achieve this series of goals, the Vietnamese government believes that solar energy is the most cost-effective solution to meet Vietnam's growing electricity demand.

In addition, the National Power Development Plan VII issued by the Ministry of Energy revised the photovoltaic system deployment target by 2045. By 2030, 50% of office buildings and residences in Vietnam will be equipped with rooftop solar systems for their own use. The overall goal is to add 13.6GW of utility-scale PV systems and 3.4GW of rooftop PV systems.

State Investment Sparks Solar Revolution

The Ministry of Industry and Trade recently released the National Power Development Plan 2021-2030, allocating US$135 billion to deploy more renewable energy facilities and expand grid capacity. The plan aims to create favorable conditions for the development of the country's solar industry, deploying rooftop solar systems on more than half of the country's commercial and residential buildings through net metering rules. According to statistics, as of April 20, 2023, Vietnam has installed more than 18.4 GW of solar systems, mainly through feed-in tariff schemes that support small-scale and utility-scale installations.

Latest Developments in Energy Storage Batteries

November 2022: Vingroup Joint Stock Company, Vietnam’s largest conglomerate, and VinES Energy Solutions, a subsidiary of China’s Gaoxuan High-tech, begin construction of a $275 million battery factory in Vietnam. The factory is located in Ha Tinh City, a central province in Vietnam, and will produce 30 million lithium iron phosphate (LFP) batteries annually.

May 2023: Japan’s Marubeni Corporation partners with Vietnamese battery and energy-as-a-service provider VinES to build energy storage facilities in the Southeast Asian country. Marubeni will begin part of its collaboration with feasibility studies of battery energy storage system (BESS) units that may be deployed at Vingroup commercial and industrial sites.

In summary, Vietnam's photovoltaic energy storage market has shown strong demand growth with the support of policy, technology, economy and other aspects. This has provided a strong impetus for the development of the photovoltaic industry and prompted all countries to increase commitment and collaboration with Vietnam.

Taking into account factors such as the development status of the battery industry in Vietnam, pricing and customer preferences, MeritSun provides industrial and commercial energy storage solutions that match the market.

The Features of MeritSun’s Serve Rack Module Series

● Enables monitoring via RS232/RS485/CAN communication on a PC and LCD/LED display for real-time battery status, providing precise monitoring capabilities for small-scale commercial and industrial energy storage units.

● Designed for easy installation in a 19-inch rack/cabinet, it supports stackable capacities ranging from 2.5KWh to 200KWh, making it suitable for large-scale applications.

● Equipped with an intelligent Battery Management System (BMS) featuring a maximum continuous charge/discharge current of 100A, ensuring a longer lifespan with over 8000+ cycles.

● Tailored to diverse energy storage requirements, including telecom backup power, office buildings, shopping malls, and more.

Driven by a profound sense of purpose, MeritSun is dedicated to spearheading the global transition into a renewable energy era. Our unwavering commitment to research and development fuels our quest for innovation, as we actively seek solutions for the future of energy. As we navigate this journey, we are actively seeking kindred spirits to join us in catalyzing significant transformations in the global energy landscape. We enthusiastically invite collaboration with distributors and partners worldwide, as together we play our role in shaping a more prosperous and sustainable future. Come, join us in the exploration, innovation, and collective efforts to shape the future of energy!

By Christy

MeritSun Power Limited

export-17@meritsunpower.com

MeritSun was founded in 1999, we have 24 years of professional experience in energy and integrated solution services. We have 100+ R&D teams,1368 employees,48 fully automatic production lines, and a 150,000 square meters factory, become the industry pioneers in battery suppliers through effective management.