Electric bikes, solar power gain traction as heatwaves push up energy demand in Vietnam

Tran Van Minh, a ride-hailing driver in Ho Chi Minh City, said his decision to switch from a gasoline vehicle to an electric bike initially stemmed from a very basic reason: cutting costs.

Cutting costs comes hand in hand with higher profits, according to Minh.

He previously spent around VND120,000 (US$4.56) per day on gasoline.

Since his switch to an electric vehicle, charging costs are only around VND30,000-40,000 ($1.14-1.52) per day and do not exceed VND50,000 ($1.9) even with heavy usage.

In addition to saving on fuel costs, electric vehicles break down less frequently and do not require engine oil changes.

For those with intensive usage, the difference in daily fuel expenses and regular oil changes can accumulate into a considerable amount of savings.

“If you work consistently, saving up to several million dong is feasible,” he said. [VND1 million = $38]

His colleague, Duong Cong Hoang, said his biggest initial concern was the battery.

Hoang, also a ride-hailing driver in Ho Chi Minh City, has been using the electric vehicle for over four years.

He said he had researched through books and consultations with the staff at the store, and learned that replacing the battery for an electric bike costs tens of millions of dong.

However, after using it, he realized that the costs spread over the span of six to eight years, or even 10 years, which would not be considered a loss.

According to Hoang, an electric bike’s battery often lasts six to eight years, or even longer with careful use.

Also, it does not fail immediately but gradually loses range over time.

Meanwhile, daily savings of around VND80,000-100,000 ($3.04-3.8) from reduced fuel and maintenance costs can add up to roughly VND2-2.5 million ($76-95) per month.

“If you work consistently, those savings are enough to cover the battery costs, not to mention the fact that electric bikes break down less and do not require periodic oil changes, which makes total costs not as big a barrier for drivers,” he added.

He also stressed that the total costs would not be a burden when considering all factors on the total scale.

Another notable point is that the operating costs of electric bikes are more stable than those of gasoline ones, as they are not affected by the fluctuations in fuel prices.

This helps riders, especially ride-hailing drivers, track their income more easily and plan their finances more proactively.

As urban areas gradually tighten emissions standards and promote green transport, electric bikes are no longer an emerging trend but they are becoming a practical solution.

Rooftop solar power payback period is shortening

As the trend of ‘electrifying life’ is becoming clear, the next issue is the electric costs. This is where rooftop solar power becomes the key piece of the puzzle.

A business owned by Nguyen Van Hoang in Ho Chi Minh City previously paid more than VND32 million ($1,216) for electricity a month due to the continuous operation of high-capacity air-conditioning systems.

After investing VND550 million ($2,090) in rooftop solar with battery storage, the electricity bill dropped to VND7.3 million ($277.4).

During the day, the system uses sunlight to power equipment and charge the battery.

At night, especially during peak-price hours, stored electricity is used instead of grid power.

“We are almost completely in control, everything is managed on a phone,” Hoang said, adding that the payback amount is expected in about two years.

According to a representative from Ho Chi Minh City Power Corporation (EVNHCMC), the effectiveness of solar power has been proven after nearly a decade of operation.

If the market previously had many concerns about the panel durability, operational efficiency, and storage capacity, nearly 10 years of deployment have proven minimal performance degradation, provided systems are regularly maintained and hygiened.

As equipment prices decline, payback periods for rooftop solar systems have shortened significantly.

For systems without battery storage, payback periods can be around two years. Meanwhile, systems with storage take longer to recover costs but they allow users to control electricity supply at night and increase self-sufficiency.

In particular, in the event of grid disruptions, the system can continue operation for a certain period, ensuring that household activities and production are not disrupted.

This is the ‘dual benefit’ rooftop solar provides: reducing electricity costs for users, while helping with demand response for the urban electricity systems.

For battery storage, technology has improved significantly over the past five years, better meeting practical needs.

The Southern Power Corporation (EVNSPC) said it is actively supporting new registrations and providing detailed information on rooftop solar systems both directly and online.

It has expert teams advising on energy issues, energy audits, and solar installations for businesses and factories across provinces.

In addition, the power sector has developed a data and information system for rooftop solar installation on the website solar.evn.com.vn, where customers can refer to market prices, capacity, and registration procedures online.

As electricity demand continues to rise, electrical devices become more widespread and green transport expands, consumers are no longer just 'electricity users' but are becoming more proactive in creating and managing their own energy sources.

The issue is no longer about saving small expenses, but about optimizing total operating costs, from efficient energy use to the adoption of renewable energy for sustainability.