Rooftop solar power offers saving solution during COVID-19

Despite the impact of the COVID-19 pandemic and many countries limiting customs clearance, solar power enterprises with manufacturing plants in Vietnam are still taking advantage of the domestic market to serve customers and sustain growth.

Rooftop solar power offers saving solution during COVID-19 hinh anh 1

A roof-top solar power system is installed on a house in central Vietnam 

Nguyen Ngoc Quynh, Chief Business Officer and representative of the HCM City-based Bach Khoa Solar Energy Company (SolarBK), said various COVID-19 solutions had been offered to preserve the market from damage from the pandemic.

She said the global spread of COVID-19 had boosted the Photovoltaic (PV) market in Vietnam this year since the social distance order had restricted trade, while solar panels were imported from foreign countries.

“Our company has offered two solutions – the BigK solar power, BigK Basic and BigK Advance – to meet the need of customers since March 2020. It means that a household that installed a system of 4KWp of the BigK Basic solution would earn its breakeven point in four years and eight months, two months shorter than before,” Quỳnh said.

“The above solutions were considered a safe and effective investment channel during the peak power consumption in the dry season next month,” she said.

She said with the new purchase price from the Government, many customers have become interested in BigK solutions to ease power consumption in summer, and SolarBK could provide competitive made-in-Vietnam PV panels to reduce investment for households and provide a favourable guarantee policy as well.

Quynh added that many businesses had suffered heavy damage as economic activities were suspended due to COVID-19, but banks could offer loans for customers.

According to independent research by the Vietnam National Economics University, if the COVID-19 pandemic lasts until the end of June, September or the end of the year, 6.1 percent of Vietnamese enterprises would maintain their operation, while 19.3 percent will have to reduce production scale. Meanwhile 39.3 percent would go bankrupt.

The stock market is now risky as Vietnam’s economy could fall into the red, while different countries had to shut down their markets in order to limit the spread of COVID-19.

Deputy General Director of the Electricity of Vietnam (EVN)’s HCM City branch Bui Trung Kien said power use increased more than in previous years during the social distancing order.

 

He said students and labourers had to stay at home as their schools and workplaces were forced to shut down.

He said that EVN indicated the power consumption nationwide in March had increased by 8.55 percent over the same period last year. Two economic hubs – Hanoi and HCM City – had 17 percent and 13 percent rises, respectively

He said household solar power installation could help save home power use cost during the social distancing period.

Recently, the Prime Minister also issued Decision 13/2020 / QD-TTg (known as Decision 13) on the incentive programme to encourage development of solar energy in Vietnam

It offers the buyback rate of PV rooftop at 1,943 VND per KWh (0.0935 USD per KWh) for all solar power projects operating after June 30, 2019 and December 31, 2020. The decision has earned confidence and encouragement among solar power investors during the COVID-19 pandemic.

Nguyen Dinh Chien, a customer in Tan Binh district, HCM City, said he decided to install a roof-top solar power system to gain benefits from the government’s solar power buy-back policy, while reducing power use costs.

“My family uses on average 600 kWh of power each month, so a BigK 3kWp roof-top solar power system would help reduce half of power cost from the Government’s solar power buy-back policy,” he said./.VNS

Is it time for rooftop solar power?

Is it time for rooftop solar power?

Industrial zones as well as supermarkets and large real estate developers have begun designing rooftop solar power systems for their new projects.

Rapid growth forecast for solar rooftop energy industry

Rapid growth forecast for solar rooftop energy industry

Technological advances, preferential credit policies and pricing incentives have set the stage for solar rooftop energy to become the next big thing in clean energy in Vietnam, according to industry insiders.

 
 

Other News

.
One-year EVFTA: major European investors pour billions of dollars into Vietnam
One-year EVFTA: major European investors pour billions of dollars into Vietnam
BUSINESSicon  15/10/2021 

The Government has reported to the National Assembly about the implementation of EVFTA (EU-Vietnam FTA) over the last year.

Curbs fail to faze South Korean M&A
Curbs fail to faze South Korean M&A
BUSINESSicon  14/10/2021 

According to data from MergerMarket, which is a business development tool designed specifically for the M&A sector, South Korean investors have carried out 69 M&A deals in Vietnam since 2005, with a total value of $5.1 billion.

Inconsistencies deter power plan feasibility
Inconsistencies deter power plan feasibility
BUSINESSicon  14/10/2021 

Power source development in recent years has been at odds with load distribution, and many coal-fired power plants expected to operate in the last five years are behind schedule.

Vietnam vows to stamp out unregulated fishing
Vietnam vows to stamp out unregulated fishing
BUSINESSicon  14/10/2021 

The Vietnamese government is doing its utmost to prevent illegal, unreported, and unregulated fishing practices, helped along by moves in Europe to remove warnings on the country’s activities.

Gigantic lifeline en route for essential businesses
Gigantic lifeline en route for essential businesses
BUSINESSicon  14/10/2021 

In a bid to help the country recover after the economy grew at a very low level in the third quarter, a huge financial support package is to be offered to enterprises whose performance is a backbone of economic growth.

Bank loans rise despite pandemic
Bank loans rise despite pandemic
BUSINESSicon  14/10/2021 

Despite being strongly affected by the COVID-19 pandemic, bank loans in the first nine months of this year kept rising compared to the same period last year, deputy governor of the State Bank of Vietnam (SBV) Dao Minh Tu said.

VIETNAM BUSINESS NEWS OCTOBER 14
VIETNAM BUSINESS NEWS OCTOBER 14
BUSINESSicon  14/10/2021 

Ministry of Transport agrees to resume two more domestic air routes

GDP growth target is hard to reach: Minister of Planning and Investment
GDP growth target is hard to reach: Minister of Planning and Investment
BUSINESSicon  14/10/2021 

Minister of Planning and Investment (MPI) Nguyen Chi Dung calculated economic growth in the whole of 2021 at between 3 and 3.5 per cent, but also said such a target will be difficult to reach.

Vietnam Chemical Group plans disinvestments to get over VND2.4 trillion
Vietnam Chemical Group plans disinvestments to get over VND2.4 trillion
BUSINESSicon  14/10/2021 

The Vietnam Chemical Group (Vinachem) has submitted to the Commission for the Management of State Capital at Enterprises (CMSC) its restructuring plan for the period 2021-2025.

Positive signs for year-end car shopping
Positive signs for year-end car shopping
BUSINESSicon  14/10/2021 

Car sales in Vietnam increased by 52 percent last month after five consecutive months of decline, showing positive signs for the car market at the end of the year.

WB lowers Vietnam’s GDP growth forecast to 2-2.5 percent this year
WB lowers Vietnam’s GDP growth forecast to 2-2.5 percent this year
BUSINESSicon  13/10/2021 

Vietnam’s GDP growth forecast for this year has been lowered to 2-2.5 percent, according to the World Bank's October 2021 Vietnam Macro Monitoring.

Vietnam’s rice price surges, surpasses that of Thailand
Vietnam’s rice price surges, surpasses that of Thailand
BUSINESSicon  13/10/2021 

The export price of Vietnam’s 5% broken rice has soared recently, surpassing that of Thailand and far outstripping the rice prices of India and Pakistan, according to the Vietnam Food Association.

Localities hesitate to reopen, still await decisions from central agencies
Localities hesitate to reopen, still await decisions from central agencies
FEATUREicon  14/10/2021 

Many cities and provinces are reopening hesitantly due to fear of the pandemic as their leaders are very cautious in making decisions because of the pressure of responsibility.

Local authorities urged to set green corridor for domestic flights
Local authorities urged to set green corridor for domestic flights
FEATUREicon  13/10/2021 

The first commercial flights have been provided in the new normal period. However, the application of different regulations in different localities have caused problems.

Vietnamese capable of making high tech products
Vietnamese capable of making high tech products
FEATUREicon  14/10/2021 

Many Vietnamese enterprises are diligently researching and developing Make in Vietnam products with high technology content.

Commodity exports via e-commerce promoted during COVID-19 pandemic
Commodity exports via e-commerce promoted during COVID-19 pandemic
BUSINESSicon  13/10/2021 

Representatives from State management bodies and companies speak about the advantages and challenges Vietnamese businesses face in e-commerce, especially commodity exports.

VIETNAM BUSINESS NEWS OCTOBER 13
VIETNAM BUSINESS NEWS OCTOBER 13
BUSINESSicon  13/10/2021 

Vietnam grasps opportunities to expand agricultural export market

Vietnam to further develop biotechnology industry by 2030
Vietnam to further develop biotechnology industry by 2030
BUSINESSicon  14/10/2021 

The Government has approved a plan to further develop the biotechnology industry in Vietnam, levelling it up to that of advanced industrial countries by 2030. 

Tax cut proposed to stabilise domestic petrol price
Tax cut proposed to stabilise domestic petrol price
BUSINESSicon  13/10/2021 

Calls have been made for tax cuts to stabilise domestic fuel prices as global oil prices see continual increases.

PM says Gov't to stand with businesses during pandemic
PM says Gov't to stand with businesses during pandemic
BUSINESSicon  13/10/2021 

Prime Minister Pham Minh Chinh congratulated and sent his best regards to all Vietnamese entrepreneurs to mark Vietnam Entrepreneurs' Day (October 13) during a meeting in Hanoi yesterday. 

 
 
 
Leave your comment on an article

OR QUICK LOGIN