Investing in renewable energy to save power

Many families and businesses have started using energy-saving products to cope with the soaring prices of electricity, petrol, and gas. However, there remain certain snags in developing renewable energy in Vietnams.

Innovations

Many innovations have been introduced in response to the energy-saving campaign launched by the Ho Chi Minh City Power Corporation.

The family of Nguyen Thi Ngai in Tan Binh district is one of 800,000 families in Ho Chi Minh City who can now save nearly VND100,000 a month after replacing the old incandescent lamps with compact light bulbs. Le Thi Xuan in District 3 says her family has decided to use a solar-powered water heater and turn off all light bulbs in the house at peak time in the evening when need be.

Nguyen Anh Vu, Head of the Public Relations Department of the HCM City Power Corporation, says his company recently launched a communication campaign to raise public and business awareness of the need to save energy and has received a positive response from many families and businesses in the city.

In the first six month of 2011, the city saved as much as 198.59 million kWh of electricity (85.41 percent of the annual target). Of the total, 40.9 million kWh was saved in public lighting (21.6 percent) 101.7 million kWh in daily lighting (51.2 percent) and 34.2 million kWh in production (17.2 percent).

Hoang Minh Ba, Director of the JSC Technical Services Telecom – TST member Group Posts, says not a few businesses are still using backward technologies which consume much power.

In addition, power waste in households remains a big problem as they have no energy-saving equipment.

Challenges

In order to ensure the sustainable development of businesses and improve their competitive edge, it is imperative for them to use renewable energy such as wind, solar, and bio energy.

However, the cost of investment in renewable energy projects is very high beyond the reach of domestic businesses.

Tran Anh Hao from the HCM City Department of Industry and Trade cites another reason for low foreign investment in such projects is the low price of electricity in Vietnam.

The HCM City Department of Industry and Trade is sponsoring an energy-saving exhibition (Enertec Expo 2011) in the hope that visitors will be able to gain access to energy-saving technologies and products and contribute to implementing the national strategy on energy efficiency and reduction of environmental pollution. – VOV

Tags: Renewable energy, Vietnam electricity, Vietnam energy