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Vietnam's Energy Transition: Policy Development and Improvement Measures for Renewable Energy and ESS
As the recent energy crisis intensifies due to climate change, the global share of renewable energy is increasing. In response, the global ESS (Energy Storage System) equipment and market are expected to grow rapidly. Vietnam is also actively promoting policies to foster an energy storage industry ecosystem in response to the energy crisis. While the government's existing policies have focused on maximizing renewable energy development, the increasing importance of Energy Storage Systems (ESS) necessitates institutional improvements and new regulations. This issue will examine the evolution of Vietnam's energy policies and proposed improvements to leverage its energy potential.
1. Vietnam's Policy Direction for Renewable Energy Development
1) Vietnam's Policy Direction
The deployment of Energy Storage Systems (ESS) is becoming an essential element for building a flexible power grid in response to changes in the power mix (e.g., increased renewable energy, nuclear power). Countries worldwide are formulating concrete strategies to develop energy storage as a future strategic industry to gain an early lead in the global ESS market.
In line with this trend, Vietnam has announced its National Power Development Plan (PDP8) to prepare for future energy growth. PDP8 introduces various policies, such as the Direct Power Purchase Agreement (DPPA) and Feed-in Tariff (FIT), to establish a flexible power grid. DPPA allows companies to directly purchase renewable energy, while FIT is a system where electricity from renewable energy sources is purchased at a fixed price. These policies aim to activate private sector participation and encourage renewable energy.
Furthermore, the Electricity Law adopted in November 2024 is legislation that provides indirect benefits to power plants by Vietnam Electricity (EVN), focusing on accelerating the development of renewable energy sources such as solar and hydrogen. This law is expected to encourage private investment in energy storage systems in the future. These policies will contribute to establishing the ESS industry foundation and implementing an efficient storage mix.
2) Need for Regulation Establishment
As the importance of energy storage continues to grow, Vietnam still primarily focuses on expanding renewable energy, leading to a lack of clear regulations for energy storage. In global examples, South Korea ensures the safety and efficiency of Energy Storage Systems (ESS) through regulations such as KEC (Korea Electro-technical Code), NFPC&NFTC607 (Fire Safety Performance Standards for Electrical Storage Facilities), and battery KC certification to expand ESS deployment. Globally, ESS installations adhere to standards like UL certification and IEC regulations. In contrast, Vietnam currently lacks established policy standards. There is a growing need to establish regulations for electricity, fire safety, telecommunications, and construction to secure competitiveness in the global energy market. Regulations are typically built upon pilot cases. The C&I ESS project, being jointly undertaken by Bigtorage and VinFast this year, is expected to serve as a crucial reference for Vietnam's policy development. This project will be utilized as an important pilot case for improving Vietnam's energy storage policies and regulatory framework in the future.
2. Vietnam's Renewable Energy Potential
Vietnam is considered a market with significant growth potential in the energy sector due to its favorable climate conditions and rapid economic growth. While coal and hydropower currently dominate as primary energy sources, the country is pursuing a phased decommissioning of coal-fired power plants for a long-term transition to renewable energy. As a result, the share of electricity generation from renewable energy sources like solar and wind is projected to reach nearly 40% by 2030 and increase to 67.5%–71.5% by 2050.
In this regard, the Vice President of the Global Energy Alliance emphasized that Vietnam is rapidly emerging as a leading renewable energy hub in Southeast Asia. He specifically mentioned the potential for wind and solar power development, as well as Battery Energy Storage Systems (BESS), adding that significant investment is required to effectively utilize these resources. Vietnam must achieve its energy transition through diverse energy policies and collaborations, especially to effectively utilize renewable energy.
Conclusion
As Vietnam increases its share of renewable energy, the importance of Energy Storage Systems (ESS) is also growing. This necessitates the establishment of clear regulations across various sectors, including electricity, fire safety, telecommunications, and construction. Vietnam's ESS policy development, informed by global examples, will form a crucial foundation for future energy transition and the establishment of efficient storage systems. In particular, the Bigtorage and VinFast ESS project is expected to serve as a significant pilot case for future regulatory framework improvements. Vietnam must strengthen policies for the growth of its renewable energy industry and foster an ecosystem for a sustainable energy future.
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