With a population of nearly 100 million people, one of the fastest growing economies in the world and shrinking sources of conventional energy, Vietnam has become the hottest PV market in Southeast Asia. There's practically no month without headlines of new large solar power plants unveiled or of large international players setting foot in the country. Now that it has been confirmed that Vietnam will replace by the end of June of this year the feed in tariff with a new two-year solar tariff, the prospects of the Vietnamese PV market have never been so bright.
It is against this backdrop that GoodWe participated as an exhibitor the past 3rd and 4thof April at the Vietnam Solar Show that took place at the GEM Center in Ho Chi Minh City. For this Exhibition GoodWe presented its XS, SDT, MT and ET products, which are something of the most representative of the expanding portfolio of GoodWe products and that perfectly caters to the increasingly diversified Vietnamese market. The GoodWe booth at this exhibition was on a very prominent location, allowing the company to attract a number of visitors that exceeded expectations.
The XS is a small residential solar inverter with the size of an A4 paper and of only 5.2kgs of weight that offers installers superior levels of efficiency and profitability, allowing end-users the possibility to enjoy 30% of DC input oversizing, among many other technical advantages.
The SDT series is an up to 20kW three-phase inverter for both residential and commercial applications; this inverter features a high power density, includes two MPP trackers and offers a wide input voltage range in order to ensure design flexibility and compatibility with high-output PV panels.
The MT series is GoodWe's best presentation card on the C & I segment and it has achieved a significant success in the international market. The latest version of this inverter achieves a capacity of 80kW and it is compatible with bi-facial modules, having all that could be desired on ground-mounted PV plants.
The ET Series is an energy storage/hybrid inverter that has become one of GoodWe's star products; this inverter has attracted a good deal of attention in the European markets thanks to its outstanding UPS function, its compatibility with several types of HV batteries and ultimately due to the enhanced level of independence from the grid that it offers.
GoodWe has been present in the Vietnamese market for more than two years and over this time the company has nurtured strategic relationships with valuable local partners that have been able to confirm first-hand the emphasis that GoodWe puts on high value, quality reliability and affordable technological development. GoodWe's sales expectations in Vietnam on this 2019 are very promising.
Given the characteristics of the local market, the demand has tended to be stronger in Vietnam for C & I inverters and as such, GoodWe's MT attracted many inquiries from developers and EPCs that have seen it as a perfect fit for the solar farms that have been mushrooming in the country. However it is expected that the new policies will provide the basis for some near future developments in both the residential rooftop and energy storage markets that also have a very strong potential in this dynamic country.
The years ahead look bright for the development of the PV industry in Vietnam and this successful participation in the Solar Show constitutes an important step in GoodWe's expansion in this market.