According to experts, the future of electricity in Vietnam can meet the needs of long-term energy use by adding more renewable energy sources and advanced battery storage technology into its solution arsenal.
Vietnam’s electricity future shown in Solar Show
In Vietnam, energy use can meet long-term energy needs by adding renewable energy sources and advanced battery storage technology to its solution arsenal. Experts said that Solar Show – an event about renewable energy in Vietnam most clearly shows the direction of the future of electricity in Vietnam.
Solar Show, where the latest product lines on Clean Energy are displayed, in addition, there will be conference programs on the electricity industry, giving directions, and the development of the future of electricity in Vietnam in the coming time.
Experts in the electricity and energy industry said that renewable energy will be the most rapidly developing energy in the coming time. The future of electricity in Vietnam will develop based on this long-term energy source.
At the Solar Show exhibition, many leading domestic and foreign enterprises in the energy industry, and the latest power product lines, gather at the Solar Show. Accompanying that are the outstanding and impressive exhibition booth construction units. International businesses realize that Vietnam has many favorable conditions for the development of the future of electricity in Vietnam thanks to commercial and industrial applications, so they are making their first steps in the Vietnamese electricity market.
Potential for future development of electricity in Vietnam
Through the evaluations and events of the Solar Show exhibition, domestic businesses can see that Clean Energy is being targeted by foreign businesses, especially in the Vietnamese market.
Invest in the power industry
According to Rockhold, right in Vietnam, businesses can achieve energy security goals by attracting domestic and foreign investments in this field. Besides, new technologies in electric energy are creating opportunities for fields to reduce costs for equipment.
Solar Show is a place to bring businesses together, creating many cooperation opportunities for participating businesses. The future of electricity in Vietnam cannot be certain, but one thing that will not change is that this industry will thrive and be the direction for the energy industry in the near future, due to the increasing demand for clean energy in Vietnam.
Vietnam is one of the most energy-efficient markets in Southeast Asia, fueled by low-cost resources such as hydropower and coal. Having achieved about 99% of electrification at a relatively low cost compared to neighboring countries, the future of electricity in Vietnam is expanding.
With electricity demand expected to grow by 8% per year until 2025, Vietnam aims to develop renewable energy sources to ensure energy security and address growing electricity demand, therefore, investing in the power industry in Vietnam is a very positive direction for businesses.
Government’s concern about Vietnam’s electricity future
Renewable energy can become Vietnam’s lowest-cost option to meet the rising energy demand of the people in the future.
In recent years, the Government has launched initiatives to promote the development of renewable energy in the future of electricity in Vietnam, especially solar and wind energy. Tax incentives include a preferential corporate income tax rate of 10% for 15 years, corporate income tax exemption for 4 years and a 50% reduction for the next 9 years.
In addition, the Government has approved electricity prices for grid-connected renewable energy, including a standard power purchase agreement (20 years) for each type of renewable power, in order to create favorable conditions for businesses to invest in certain benefits.
Besides, the Government also creates favorable conditions for Energy events such as Solar Show – a prestigious and professional energy exhibition in Vietnam. Please contact us for outstanding Exhibition stand contractor at Solar Show.
>> See more: The role of the Solar Show in clean energy transformation in Vietnam