Vietnam to pay VND671 ($0.026) for excess rooftop solar power from homes, offices - Theinvestor.vn

Vietnam to pay $0.026 per kWh for excess rooftop solar power from homes, offices

State-owned Vietnam Electricity (EVN), the nation’s sole power distributor, may purchase excess rooftop solar power from homes and offices at VND671 ($0.026) per kWh.

A proposal to this effect has been made by the Ministry of Industry and Trade (MoIT) at the request of Deputy Prime Minister Tran Hong Ha, who’d asked for a scheme to buy excess solar power generated by self-use rooftop installations.

Rooftop solar panels at an industrial park in Vietnam. Photo courtesy of Thanh Nien (Young People) newspaper.

The proposed price is 58-63% lower than what EVN currently pays to commercial solar power farms, according to a ministry report released Thursday.

This rate will be adjusted annually to align with the development stages of the electricity system, it said.

The MoIT proposal also includes a maximum offtake volume of 10% from the self-use installations.

Vietnam currently has about 103,000 rooftop solar power projects, with a total installed capacity of more than 9,500 MW. According to the national power development plan for the 2021-2030 period with a vision to 2050 ( PDP VIII), the capacity of this power source will increase by 2,600 MW by 2030.

According to the MoIT, the government is encouraging the installation of self-use rooftop solar power systems for easing financial costs, but not for business purposes or incentives as it had done earlier.

The new proposal for organizations and individuals to connect their excess rooftop power to the national grid is a “favor”, the ministry said.

Industry observers have also noted another positive renewables development in Vietnam. A new government decree allows factories to directly buy electricity from commercial renewable power suppliers via Direct Power Purchase Agreements starting July 3.

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