Power & Electricity
What are the right investment signals and market reforms to push Vietnam’s energy storage capacity?
Energy storage technologies – which include batteries, thermal storage, pumped hydro, and more – can help integrate wind and solar on to the grid by storing energy when power demand is low, and discharging power when demand is high. Energy storage adds flexibility to the grid, allowing renewables to generate power when they would otherwise be curtailed.
With this value, Vietnam should plan a rapid expansion of the country’s energy storage capacity. The key question is, what are the investment incentives and market reforms that will help to attract industry players?