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2025-08-22
Vietnam's solar panel trade has been rising steadily—both in domestic manufacturing output and in export-import activity. In 2024, Vietnam’s domestic market size reached approximately 1.2 GW, with forecasts predicting growth to 2.4 GW by 2033, reflecting a compound annual growth rate (CAGR) of 7.9%.
Local companies, such as Longi and JinkoSolar, operate high-capacity plants—e.g., Longi's facilities in Bac Giang and Hai Duong exceed 3.2 GW, while JinkoSolar's Quang Ninh facility adds 2.8 GW . These expanding capacities underpin both export capability and domestic demand.
Top Buyers & Sellers in Vietnam's Solar Panel Market
According to recent import data:
Jinko Solar Vietnam Industries Co. Ltd. leads as the top importer, responsible for 17% of all solar-related shipments into Vietnam.
Trina Solar Energy Development Co. Ltd. follows closely with 16%.
Vina Solar Technology Co. Ltd. accounts for 12% .
On the export side, Vietnam ships solar panels to over 50 countries. In 2020, key export destinations included the US ($3.4 billion), Canada, the EU, Turkey, and Japan .
>>>> Find Buyers for Vietnam's Solar Panel Trade<<<<
Price Range & Competitiveness
Vietnamese-manufactured solar panels are renowned for being cost-competitive—priced 8–12% lower than Chinese equivalents and 25–30% cheaper than European or American alternatives, while maintaining similar international quality standards.
Specifically, high-quality monocrystalline panels cost dropped from $0.34/W in 2022 to $0.28/W in 2024. Analysts expect further reductions of 3–5% per year through 2027, thanks to economies of scale and manufacturing efficiency improvements .
On consumer side, installation costs vary by system size. For households, a 3 kWp system typically costs 35–45 million VND, while a 10 kWp system ranges between 90–150 million VND. Large-scale commercial installations are more cost-effective, at around 8–10 million VND/kWp
Driving Forces Behind Vietnam's Solar Trade Dynamics
Vietnam benefits from a tropical climate with abundant sunlight—central and southern regions achieve 2,000–2,600 sunshine hours annually, boosting solar viability .
Policy support also plays a crucial role. Vietnam’s feed-in tariffs, tax incentives, duties exemptions, and a new decree for rooftop solar introduced in 2024, have significantly reduced barriers and costs for both manufacturers and consumers .
>>>> Report of Vietnam's Solar Panel Trade<<<<
Why This Matters for Exporters & Investors
Vietnam's solar panel industry is expanding rapidly, with robust growth projected through 2033. Its export infrastructure, cost advantages, and regulatory support make it a prime market for solar-related investments.
For global exporters looking to connect with Vietnamese players, the key buyers—Jinko Solar Vietnam, Trina Solar, and Vina Solar—are central to the network. With solar panel costs declining year-on-year, there’s a compelling opportunity to find price-competitive, high-quality panels for both domestic and international trade.
>>>>Know More About Vietnam's Solar Panel Trade<<<<
Conclusion
Vietnam is emerging as a solar trade powerhouse in Southeast Asia, offering a blend of production capacity, competitive pricing, and growing international reach. With imports led by major PV firms and price declines supporting higher adoption, the landscape offers rich insight for businesses, investors, and policy watchers alike.
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