SMARTGEN, in cooperation with POEN, accelerates residential solar installation business in Vietnam

Based on this cooperation, the two companies plan to expand the deployment of integrated solutions combining solar power and energy storage systems (ESS) in Vietnam’s residential energy market. In particular, this project is significant in that it is not limited to a simple agreement or product supply announcement, but actual installation has begun on-site. Through a residential solar installation ceremony held at the site, the launch of the residential solar installation business in Vietnam has been officially declared, and this is expected to become a symbolic starting point for the expansion of residential solar and ESS-linked projects in the future.

SMARTGEN and POEN representatives at the residential solar installation ceremony, marking the official launch of their cooperation in Vietnam.

Vietnam’s residential energy market has been rapidly changing recently as interest in reducing electricity costs, expanding self-consumption, and securing power stability has increased. In the past, the installation of solar panels itself was the main focus, but now demand is increasing for considering how to store and efficiently utilize the generated electricity. Accordingly, a business model that combines solar EPC and ESS supply systems is likely to have competitiveness in the market in the future.

SMARTGEN is a company that carries out solar EPC, BESS consulting, and energy solution businesses based in Vietnam, and its strength lies in an execution-oriented business structure that connects design, installation, and operational support. Rather than simply selling products, it focuses on designing systems suitable for actual customer sites and supporting stable construction and operation.

POEN is a battery solutions company that performs residual value assessment, remanufacturing, reuse, and development and production of electric vehicle batteries. Starting as an internal venture of Hyundai Motor Company in 2019 and spun off in 2020, it has accumulated technological capabilities in battery remanufacturing and the circular economy sector. Recently, it has expanded its portfolio from electric motorcycle batteries to ESS product lines, strengthening its position as a comprehensive energy storage solutions company, including winning an innovation award at CES 2024.

On-site installation of a residential solar and energy storage system (ESS), demonstrating the practical deployment of integrated energy solutions in Vietnam’s residential market.

A SMARTGEN official stated, “The acceleration of this installation business will serve as an opportunity to expand practical solution provision in Vietnam’s residential energy market beyond simple product supply cooperation,” and added, “Based on our EPC execution capabilities, we will enhance the completeness of installation and operation, and through cooperation with POEN, we will provide integrated residential energy solutions combining ESS.”

He further added, “In Vietnam’s residential market, interest is increasing not only in reducing electricity costs but also in energy utilization efficiency and power stability,” and “SMARTGEN plans to support customers so that they can more easily adopt solar power and ESS based on localized installation capabilities.”

With this project as a starting point, SMARTGEN and POEN plan to expand practical installation cases in the residential solar and ESS-linked market in Vietnam and further strengthen their competitiveness in the residential energy solutions sector./.