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1. Current Status of the Energy Market in Vietnam
1) Market Overview
As of the end of 2021, Vietnam's total power generation capacity reached 77 GW. More than 40% of this capacity relies on coal and thermal power, exacerbating carbon emissions and energy supply imbalance issues. The share of renewable energy generation stands at approximately 20%, with solar capacity at 16,500 MW (including rooftop solar). Vietnam is the largest solar power producer in Southeast Asia as of 2021 and ranks among the top ten globally.
The Vietnamese government is transitioning the energy market structure from carbon-intensive fossil fuels to clean energy. In particular, the amended Electricity Law adopted in 2024 aims to improve the efficiency of the power grid and expand renewable energy sources such as wind and solar power, with implementation planned for 2025.
2) Key Energy Resources and Challenges
Despite being a country with significant power generation capacity, Vietnam faces rising electricity prices and severe power shortages, leading to the necessity of importing electricity from China and Laos to meet energy demand. Vietnam heavily relies on coal and thermal power, and although it has the potential for solar and wind power due to abundant sunlight and a long coastline, the lack of energy storage infrastructure prevents effective utilization, resulting in power shortages during peak hours due to grid instability.
2. The Necessity of Bigtorage in the Vietnamese Energy Market
Vietnam is struggling to ensure stable power supply due to rapid energy demand growth, delays in the PDP8 plan, and insufficient policies for expanding renewable energy. According to an EVN report, electricity supply during dry seasons poses a significant threat, and stable power supply is urgently needed to achieve the carbon neutrality goal by 2050. To address these issues, the introduction of Bigtorage is essential, as it is recognized as a key technology to enhance grid stability, distribute peak loads, and address renewable energy variability. Although still in the early stages, Vietnamese companies such as VinFast and Son Ha Group are beginning to adopt Bigtorage.
3. Factory-type Bigtorage: A Key Technology in the Vietnamese Energy Market
In Vietnam, C&I (Commercial & Industrial) Bigtorage goes beyond energy storage, performing various functions such as stabilizing the power grid, managing peak loads, and reducing costs. Bigtorage allows for energy storage during lower-cost periods and supplies electricity during high-demand periods, thus contributing to cost savings and maximizing energy efficiency. It can also serve as emergency power during outages, promoting uninterrupted operations and increasing factory utilization, leading to a surge in adoption among Vietnamese manufacturers.
Additionally, Bigtorage can be installed at power plants or substations to enhance grid stability and smooth out the variability of renewable energy sources like solar and wind, thereby stabilizing power supply. The Vietnamese government is promoting institutional improvements through support for Bigtorage installation and the development of energy efficiency programs, planning to create an environment that facilitates easy adoption of Bigtorage by companies. This national support is expected to play a critical role in establishing Bigtorage as a core technology in the Vietnamese energy market.
Survival Strategies Amid Carbon Regulations: Leading the Establishment of a Susta...
2025.03.06 | Bigtorage
1.The Necessity of ESS in Vietnam: The VinFast Case 1)The Necessity of ESS in Vietnam and VinFast's Technological Capability Vietnam is experiencing a surge in demand for sustainable energy solutions, and VinFast aims to address the stability of the power grid, peak time distribution, and the vo...
Survival Strategy Amid Carbon Regulations: Why Bigtorage is a Necessity in the Vi...
2025.02.06 | Bigtorage
1. Current Status of the Energy Market in Vietnam 1) Market Overview As of the end of 2021, Vietnam's total power generation capacity reached 77 GW. More than 40% of this capacity relies on coal and thermal power, exacerbating carbon emissions and energy supply imbalance issues. The share of ren...
Essential Information on Vietnam's Solar Power Business from Bigtorage: Why ESS i...
2024.12.20 | Bigtorage
1. What is an Energy Storage System (ESS)? An Energy Storage System (ESS) is a technology that stores electrical energy for later use. ESS plays a critical role in addressing the imbalance between energy supply and demand and mitigating the intermittency of renewable energy sources. Renewable energy...
Essential Information on Vietnam's Solar Power Business from Bigtorage: Navigatin...
2024.12.20 | Bigtorage
Key Challenges Increased Carbon Tariff Burden on Exported Products Regulations such as CBAM impose taxes based on the carbon emissions associated with exported goods. This results in additional costs for products manufactured in Vietnamese factories that still rely on coal-fired power, weakening the...
‘2024 Hannam Entrepreneurs’ Night’: Representative of Bigtorage Selected as an Ou...
2024.12.20 | Bigtorage
Source: Hannam University Source:Bigtorage Hannam University’s Startup Support Group announced on the 18th that it hosted the "2024 Hannam Entrepreneurs’ Night," an event to share the annual achievements of startups, promote exchanges between entrepreneurs and partner organizations, and ...
Bigtorage, ESS Specialist, Signs Contract to Build ESS in Vietnamfull-fledged ove...
2024.12.12 | Bigtorage
Bigtorage, ESS Specialist, Signs Contract to Build ESS in Vietnamfull-fledged overseas expansion Bigtorage (CEO: Lee Tae-seung), a startup specializing in ESS (energy storage system) solutions, said it signed an ESS contract for Vietnam's Commercial Building (COBI TOWER) in early December throug...
Bigtorage, First SME Selected as an Excellence Case for 'WIN-WIN HONORS'
2024.12.12 | Bigtorage
Lee Tae-seung, CEO of Bigtorage (right), and Jinyoung Kim, CEO of Nuriflex Vietnam, take a commemorative photo at the award ceremony for the "Win Win Honors" on Tuesday. Photo = Bigtorage Bigtorage magazine, a startup specializing in ESS (energy storage system) solutions, announced that it was selec...
[Startup CEO at Hanam University’s Startup-Centered University Program] Bigtorage...
2024.12.12 | Bigtorage
Bigtorage: A Startup Specializing in ESS Platforms and Technology Bigtorage is a startup specializing in energy solutions, particularly platforms and technologies related to Energy Storage Systems (ESS). It was founded in July 2019 by CEO Tae-Seung Lee (37). Bigtorage operates with advanced control ...
Important Information About Solar Power Projects in Vietnam by Bigtorage: Vietnam...
2024.12.12 | Bigtorage
First: Vietnam's Solar Power Potential Vietnam possesses tremendous potential for solar energy development due to its geographical advantages. Most regions in Vietnam enjoy abundant sunlight, with the country’s solar power potential estimated at approximately 963,000 MW, according to the V...
Important Information About Solar Power Projects in Vietnam by Bigtorage: Vietnam...
2024.12.12 | Bigtorage
1. National Power Development Plan (PDP8) The National Power Development Plan (PDP8) is a key strategy outlining Vietnam's long-term electricity supply goals, aiming to meet power demand and reduce carbon emissions by 2030. PDP8 targets increasing the share of renewable energy to 30.0–39.2...
Bigtorage Signs MOU with Tilda for Entry into the Japanese Energy Market
2024.12.12 | Bigtorage
Lee Tae-seung, CEO of Bigtorage (left), and Jeong Ji-ryang, CEO of Tilda, sign a memorandum of understanding for entry into the Japanese energy market. Photo courtesy of Bigtorage. Bigtorage, a company developing optimal control and operation technologies for Energy Storage Systems (ESS), has announ...
Bigtorage Signs MOU with VinFast and NuriFlex Vietnam
2024.12.12 | Bigtorage
(From left) Bigtorage, NuriFlex Vietnam, and VinFast sign a strategic memorandum of understanding. Photo courtesy of Bigtorage. Bigtorage, a Startup Specializing in Small-Scale ESS Solutions, Signs Strategic MOU with VinFast and NuriFlex Vietnam. Bigtorage, a startup specializing in small-scale Ener...
Important Information You Must Know About Solar Power Projects in Vietnam by Bigt...
2024.12.12 | Bigtorage
1. Promoting Investment in Renewable Energy Carbon regulations have emerged as a powerful factor driving investment in renewable energy. As companies face financial impacts from these regulations, they increasingly turn to renewable energy sources to mitigate costs related to carbon emissions. Effor...
Small ESS Efficiency 'Bigtorage' Attracts Free A Investment from Blue Point
2024.08.31 | Bigtorage
Bigtorage, which develops small-capacity energy storage (ESS) optimal control and operation technology, has attracted a pre-series A investment from Blue Point Partners. The amount is private. Bigtorage was selected as the 4th "The GS Challenge. Future Energy" in which Blue Point Partners (hereinafte...
Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation
2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
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2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
This information was created temporarily.
2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
Bigtorage Inc. Partners with ChainXbill for Cold Chain and Virtual Power Plant Pr...
2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
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