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Vietnam’s solar and storage industry event drew significantly more attendees than previous years.（Photo：Solar & Storage Live Vietnam）
Under the spotlight of Vietnam’s accelerating energy transition, Solar & Storage Live Vietnam opened on July 9 at Sky Expo Vietnam in Ho Chi Minh City. As the country’s largest trade show dedicated to solar and storage, the event drew over 6,000 registered participants and more than 200 exhibitors — both record highs.
With a strong focus on rooftop solar and energy storage, this year’s edition reflects growing momentum and international interests in Vietnam’s renewable energy landscape. RECCESSARY brings you insights from the ground.
Vietnam’s energy storage sector on the rise: Growing interest across home and C&I solutions
Executive Director Paul Clark of the event organizer Terrapinn described the current period as a pivotal moment in Vietnam’s energy transition. He emphasized how the market is energized by emerging commercial opportunities, but also noted that collaboration across stakeholders will be essential to deliver affordable, reliable clean energy in line with the country’s energy goals.
One of the biggest draws at the event was BYD’s showcase of its latest Sealion 6 plug-in hybrid SUV. While best known for its dominance in the EV market, BYD is also actively expanding into Southeast Asia’s energy storage sector. According to booth representatives, Vietnam’s growing demand positions it as a key market for both residential and C&I storage solutions.
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The latest EV model showcased by China’s leading EV producer BYD drew significant attention. (Photo: Lin Bo-yu)
Asian technology leaders introduced their latest clean energy innovations at the event. Chinese companies such as Huawei, Sungrow, and Deye presented advanced solutions and technologies. From Vietnam, Vinenergy, a subsidiary of Vingroup, and Solar BK represented the local industry. Japanese manufacturer Leapton also joined the showcase with its newest solar modules.
Shenzhen Ruen New Energy, a China-based energy storage solutions provider, sees strong potential in Vietnam’s evolving market. Export Manager Lin Li-li (林力立) highlights that regulatory changes, such as restrictions on exporting surplus solar energy back to the grid, introduced to prevent potential grid instability, are pushing the solar boom toward energy storage. As a result, users increasingly seek to store excess power, creating new demand for energy storage.
Wu Chong-yu (吳崇諭), sales representative at Hamak, a Taiwanese energy storage integrator licensed to supply utility-scale energy storage systems from Delta Electronics in Vietnam, pointed out that the widening price gap between peak and off-peak electricity rates is driving demand for energy storage. Large commercial facilities are increasingly adopting storage systems. They tap into cheaper off-peak grid power during low-price hours, then rely on stored electricity during higher-cost peak hours, which can effectively reduce their energy bills.
Like other Southeast Asian markets, Vietnam’s solar and storage sector is largely dominated by Chinese manufacturers, from modules and inverters to battery storage systems. Wu noted that Taiwan’s niche lies in catering to “non-China” demand. Some customers, particularly those with sensitive affiliations, specifically request non-Chinese equipment.
“Taiwanese companies can’t compete with Chinese firms on price or scale,” he said, “so our strategy depends on clearly defined market differentiation.”
Deloitte points to five industry challenges amid ongoing regulatory development
Phan Ngoc Anh, Partner at Deloitte Vietnam, said during his keynote at the conference that Vietnam’s policy commitments are laying the groundwork for utility-scale solar growth. The latest Power Development Plan 8 (PDP8) raises the country’s renewable energy targets and introduces a direct power purchase agreement (DPPA) framework. Although pricing mechanism remains under discussion, the government intends to implement a dual-track pricing system in which electricity rates will be based either on contractual thresholds or actual consumption, depending on user agreements.
Phan Ngoc Anh, Partner at Deloitte Vietnam, said that solar power prices in Vietnam have dropped nearly 50% since 2017. (Photo：Solar & Storage Live Vietnam)
Sun Rise E&T Corporation, a Taiwanese company specializing in floating solar solutions, made its debut at the exhibition after the Covid period. According to Sale Executive Lu Yi-yun (盧怡芸), the company has operating projects in Thailand and Laos and is now evaluating opportunities in Vietnam. With recent regulatory developments in the country, Sun Rise sees significant potential for floating solar to gain traction in the Vietnamese market.
While advancements in solar technology and international partnerships like the Just Energy Transition Partnerships (JETP) are seen as a key opportunities for Vietnam to scale up its solar market, Phan Ngoc Anh also identified five major challenges currently hindering the industry’s development:
- Practical challenges: These include equipment selection and quality control, project deployment and integration, operation and maintenance, as well as data management and performance analysis.
- Market volatility: Changes in electricity demand and fluctuations in pricing impact the viability of projects.
- Funding requirements: Significant upfront capital investment is essential.
- Regulatory complexity: A complicated regulatory framework and lengthy approval processes lead to delays and uncertainty.
- Grid infrastructure: Strong planning and execution are needed to improve both energy sourcing and supporting grid infrastructure.
The two-day solar and storage exhibition featured keynote speeches and forums across four key areas: smart energy and energy efficiency, C&I rooftop solar, energy storage and future energy, and solar installation training and net-zero initiatives. The event showcased Vietnam’s potential in renewable energy and storage, drawing attention from international buyers and investors.
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