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Vietnam is a country rich in renewable energy resources such as solar and wind. According to the World Bank, Vietnam had the largest solar power capacity in Southeast Asia in 2020, with 16,500 MW, ranking among the top 10 globally. Despite this, the country now faces serious power shortages and rising electricity prices, forcing it to import electricity from China and Laos to meet growing energy demands. Why does Vietnam, with such abundant renewable energy resources, still need to rely on imported electricity?
In this article, we will examine the root causes of Vietnam’s power shortages, explore the structural changes required to address the issue, and discuss the essential role of energy storage systems (ESS).
Vietnam’s rapid economic growth and industrialization have driven electricity demand to increase by more than 10% annually. However, electricity supply has failed to keep up, deepening the power crisis.
Key contributing factors include underdeveloped transmission and distribution infrastructure, limitations in renewable energy utilization, and a surge in electricity demand.
First, due to inadequate grid infrastructure, Vietnam is unable to effectively store and distribute electricity, leading to frequent shortages and blackouts, especially during peak demand periods.
Second, while the share of renewable energy is increasing, its intermittent nature causes instability in the power grid. Without adequate energy storage systems, it becomes impossible to fully utilize renewable sources, worsening the shortage.
Third, the surge in electricity demand, coupled with limited supply and difficulty in predicting peak loads, has led to further strain. Consumers also lack sufficient storage and energy management systems, exacerbating the issue.
As a result, Vietnam has been forced to import electricity from neighboring countries, increasing energy costs and burdening both industries and households. To ensure long-term energy stability, the deployment of ESS has become essential.
Vietnam received a score of 84 on the World Bank’s Regulatory Indicators for Sustainable Energy (RISE), the highest among Southeast Asian nations. Recognizing this, the Vietnamese government has revised its regulations and introduced incentives to attract investment in the energy sector.
Notably, the implementation of the Direct Power Purchase Agreement (DPPA) and the amended Electricity Law of 2024 aim to provide more flexible power sourcing solutions to local enterprises suffering from chronic power shortages. These efforts are expected to accelerate the adoption of ESS.
ESS helps enhance the stability and efficiency of the power grid by balancing frequency, addressing the intermittency of renewable energy sources, and reducing peak demand for consumers. It also contributes to lowering electricity bills through more efficient usage.
Such benefits are anticipated to drive major changes in Vietnam's energy market. The recent launch of a commercial ESS project by VinFast and Korean ESS specialist Bigtorage marks a significant milestone in this transition. This collaboration is expected to pave the way for standardization of commercial ESS systems in Vietnam and stimulate further investment in grid stabilization and renewable power integration.
2. Structural Changes for Renewable Energy Transition
Vietnam still lacks adequate infrastructure for energy storage and management, making it difficult to fully leverage its renewable resources. Although the government is promoting a renewable energy transition, regulatory gaps and underdeveloped frameworks continue to delay implementation.
As the country remains in the early stages of energy transition, the establishment of detailed guidelines and accumulation of practical use cases are urgently needed.
Against this backdrop, the commercial ESS project jointly promoted by VinFast and Bigtorage is particularly significant. This project not only promises improved electricity management and cost savings, but also aligns with Vietnam’s broader regulatory efforts, including the DPPA and the revised Electricity Law.
Bigtorage also has future plans to develop power trading services and Virtual Power Plants (VPPs), which align with Vietnam’s smart grid expansion strategy and ongoing energy market reforms. If successful, such cooperative models could meaningfully contribute to the realization of the National Power Development Plan (PDP8).
Conclusion
Despite being rich in solar and wind resources, Vietnam remains dependent on electricity imports due to grid instability and underdeveloped transmission infrastructure. In response, the Vietnamese government is actively working to expand renewable energy adoption and introduce ESS, supported by regulatory reforms and investment incentives.
ESS presents a viable solution that enhances grid stability, compensates for the intermittency of renewables, and reduces electricity costs through more efficient usage. It is becoming an increasingly vital component in Vietnam’s energy ecosystem.
The ESS project jointly launched by VinFast and Bigtorage is expected to serve as a key milestone in Vietnam’s grid modernization and smart energy expansion. As ESS technology and related policies continue to advance, Vietnam will be better positioned not only to resolve its energy crisis but also to move closer toward achieving energy independence and sustainable growth.
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