HOW ELECTRICITY PRICES IN VIETNAM HAVE CHANGED OVER THE LAST 10 YEARS AND THEIR IMPACT ON THE MANUFACTURING AND BUSINESS SECTORS

Over the past 10 years (2014 – 2024), electricity prices in Vietnam have experienced significant fluctuations, particularly for large-scale consumers in sectors like manufacturing and business. These changes have not only affected production and business operations but also increased cost pressures on companies, driving the need to seek energy-saving solutions, one of which is rooftop solar power systems.

1. Manufacturing Sector

In the past 10 years, electricity prices for businesses in the manufacturing sector have seen a notable increase. From 2014 to 2024, electricity prices in the Manufacturing sector (22kV – 110kV) have risen by 37.8%, averaging 5.5% per adjustment.

However, a key point is that in just 17 months, from May 4, 2023, to November 10, 2024, electricity prices in the manufacturing sector surged by 9.4%, further increasing the cost burden on manufacturers. This increase comes when power consumption by factories is high, and many manufacturers face significant challenges in operational costs.

With such fluctuations, energy cost-saving solutions, such as rooftop solar systems and battery storage, have become increasingly important. Installing solar power systems not only helps reduce electricity costs but also supports businesses in enhancing their sustainability practices. VSSES solar solutions offer renewable energy options that help reduce long-term costs and contribute to environmental protection.

2. Business Sector

In the Business sector (above 22kV), electricity prices have also changed significantly over the past 10 years. From 2014 to 2024, electricity prices for this sector have risen by 37%, with an average increase of 5.8% per adjustment. Similarly to the manufacturing sector, from May 4, 2023, to November 10, 2024, electricity prices for businesses increased by 9.5%.

This rise in electricity costs directly impacts the operational expenses of businesses, particularly for retail chains, shopping centres, and services that require large amounts of electricity. The increase in energy costs will directly affect profit margins and the competitiveness of businesses in the market.

To address this challenge, businesses in the commercial sector should consider adopting rooftop solar power systems as an effective solution for cost savings and enhancing sustainability. With VSSES solar solutions, businesses can harness free solar energy and generate electricity on-site, reducing their electricity cost burden and improving their image as environmentally responsible and sustainable companies.

Why are VSSES Rooftop Solar Solutions the Optimal Choice?

Given the significant changes in electricity prices over the last 10 years, especially the sharp increases in recent times, businesses need to seek effective energy cost-saving solutions. VSSES rooftop solar solutions not only help reduce electricity costs but also contribute to environmental protection by utilizing renewable energy sources.

VSSES solar systems are designed to be flexible and tailored to meet the diverse needs of factories, office buildings, and shopping centers, helping businesses reduce their dependence on rising electricity prices from the national grid. Furthermore, using solar energy enhances a business’s brand image by demonstrating its commitment to environmental sustainability and corporate social responsibility, which can attract both customers and investors.

Conclusion

The rise in electricity prices over the past 10 years, particularly in recent years, has posed significant challenges for manufacturers and businesses. However, with VSSES rooftop solar solutions, businesses can find long-term cost-saving solutions, protect the environment, and contribute to a sustainable energy future.

To reduce electricity costs and improve business efficiency, consider adopting VSSES solar solutions to create an intelligent and effective energy strategy.

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