Vietnam’s Advantage in Energy Storage

The energy storage sector in Vietnam has a lot of promise. The increase in energy consumption, the transition to renewable energy, and government policies are all providing substantial potential for businesses to participate in this sector in Vietnam. At the same time, technological advancements and the expansion of research and development capabilities are critical to the growth of Vietnam’s energy storage industry. research institutions, universities, and technology companies have all made major contributions to the study and development of energy-efficient storage technologies.

International energy storage businesses are also showing interest in Vietnam. Famous firms such as Tesla, LG, and Samsung have created energy storage items such as phone batteries, laptops, and so on. This would not only open up prospects for technological collaboration and transfer, but will also boost Vietnam’s position and reputation in the worldwide market.

The Government’s vision for the Energy Storage sector

One notable fact is that the Vietnamese government has implemented regulations and programs to stimulate investment in the energy storage industry. Financial aid, tax breaks, and regulatory and licensing help will be provided to businesses investing in Vietnam.

Furthermore, on June 14, 2023, the conference “Trends of Technology and Solutions for Development of Vietnam’s Energy Industry in the Strategy of Industrialization and Modernization up to 2030, the Vision to 2045” appointed the energy industry as one of the crucial foundation industries. Priority should be given to assisting domestic and international firms investing in Vietnam to create storage battery systems, renewable energy equipment, training, and storage energy technology transfer…

Earlier, on March 28, a workshop on “Vietnam’s Energy Sector Vision Report towards 100% Renewable Energy by 2050” demonstrated Vietnam’s desire to transition to a clean energy future.

Two possible energy storage methods

There are two technologies in the energy storage field that are attracting attention and are considered promising:

• Advanced Lithium-ion Battery: Because of its excellent performance, extended service life, fast charging speed, repeatability, and integration into a wide range of applications, lithium-ion batteries have quickly become the most common technology in storing power. The technology is utilized extensively in the electronics sector, as well as electric vehicles and solar energy storage systems. However, lithium-ion batteries are very flammable, temperature sensitive, and easily worn out. Advanced Lithium-ion batteries are going to help in overcoming the previously mentioned issues and improving user safety.
• Solid-state Battery: Safe batteries employ solid materials rather than liquids like Lithium-ion batteries, reducing the risk of fire, explosion, and hazardous waste. The safe batteries under development offer a large energy storage capacity, a long life span, and a quick charging speed. Furthermore, they can operate at greater temperatures and do not require exceptional cooling, unlike Lithium-ion batteries. This improves the energy storage system’s safety and stability.

TDK (Japan) and SSB Incorporated (USA) are two firms producing this type of battery.

Today, Vietnam remains a prospective and attractive market for the energy storage sector. Consider the GNP Dong Van 3 project in Ha Nam while investing in Vietnam. The project has several features that make it suited for the energy storage business, including:

• The position is in the Dong Van 3 industrial zone, which is convenient for transportation as well as local and international completed product transit.
• Design with no inner columns for maximum usable space.
• The roof is made of metal sheets, which provides higher insulation and ensures manufacturing safety.
• Floor load of up to 2 tons/m2, fireproof wall safe.
• A reliable three-phase power supply.
• Modern wastewater treatment system, as well as a qualified fire prevention system.
• Receive several tax breaks: Free for the first two years, then 50% off for the next four.

Foreign firms interested in investing in Vietnam should rent the ready-built factory GNP Dong Van 3 in Ha Nam; please contact the Hotline +84 789 75 77 88 for assistance!

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