return icon Vietnamnet.vn

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.

Rapid growth forecast for solar rooftop energy industry hinh anh 1

Solar panels installed on the roof of a seafood processing factory in the Mekong Delta. (Photo: evn.vn)

 

 

As the number of solar farms surged in 2018-2019, the Ministry of Industry and Trade has suspended the issuance of new licences for solar farms. This, however, does not cover solar rooftop projects, which still enjoy a purchasing price of 8.39 US cents per kWh. The price point, despite having been scaled down from a previous of 9.35 US cent per kWh, was still largely considered as profitable by investors.

Several preferential policies by the State have also been implemented to shorten the return of investment period to no more than 5-7 years compared to 10-12 years previously, industry insiders have said.

In addition, strides have been made in battery technology that has allowed the production of greater capacity units at lower costs. As solar rooftop technology becomes increasingly economically viable, individual households and real estate developers have shown more interest in getting involved. Meanwhile, large-scale installations in industrial zones now boast even greater potential to cut costs.

According to the HCM City-based export-processing zone Hepza Business Association (HBA), more than 1,000 factories located in the city’s numerous industrial zones have signed up to develop solar rooftop energy with BCG Energy, a subsidiary of Bamboo Capital Group.

The association said during 2020-24, it will develop up to 300MWp through solar rooftop projects to bring it to 1000MWp and cut carbon emissions by 23 million tonnes.

Last week, SkyX Solar, a subsidiary of VinaCapital, and HCM City-based telecommunications firm Saigontel formed a joint venture to develop a solar rooftop project with a combined capacity of 50MWp in 10 industrial zones in Vietnam’s central and southern regions.

Likewise, real estate developers have wasted no time hopping on the wagon. Developer Novaland and TTC Energy have signed a partnership, which will power Aqua City’s public utility demand with solar-based energy projects.

TTC Energy’s track record includes solar projects with a combined output of more than 700,000kW in Jamona City and Jamona Golden Silk, which the firm claimed help cut emissions by 232 tonnes per year. TTC Energy has also been working with large supermarket chains including Saigon Co.op, Giga Mall Pham Van Dong, cinema chain Galaxy and tourism park Dam Sen.

Traditionally shunned for high costs and dismal efficiency, solar rooftop projects have seen a second wind as more preferential policies were implemented, said HBA’s chairman Nguyen Van Be.

Be said solar rooftop may hold the answer to the country’s energy shortage in the future and could be key to cutting carbon emissions./.

More than 24,300 rooftop solar projects installed

More than 24,300 rooftop solar projects installed

More than 24,300 rooftop solar projects have been installed this month, with a total capacity of 465.8 megawatt peak (MWp).

Over 1,000 firms in HCM City to develop rooftop solar power

Over 1,000 firms in HCM City to develop rooftop solar power

More than 1,000 businesses located at processing, industrial and hi-tech parks in Ho Chi Minh City are set to have solar panels installed on their rooftops in the next few years in an effort to promote green development.

MORE NEWS

HCM City faces shortage of teachers at all levels

The Ho Chi Minh City People’s Committee has held a press conference to provide information about socioeconomic issues and epidemic prevention and control in the city.

Female People's Army officer works at EU Training Mission in Africa

Of the seven officers of the Vietnam People’s Army sent by the President to international missions, Lieutenant Colonel Vu Thi Lien is the first officer performing duties at the European Union Training Mission in Central African Republic (EUTM RCA).

VIETNAM NEWS HEADLINES FEBRUARY 4/2023

Minister requests fruitful cooperation in defence industry with other countries

Vietnamese cyber users advised to be cautious about ChatGPT registration

ChatGPT has recently been so popular in various fields. Since there are limits in ChatGPT registration from Vietnam, Internet users here are warned to be careful to proceed with the process to avoid being scammed.

2-3 more submarine fiber cable routes needed for Vietnam

The Vietnam Internet Association’s (VIA) Secretary General Vu The Binh said Vietnam needs at least two or three more submarine fiber cable routes in the next five years to serve mounting demand.

Vietnam still approves use of Covid antibody treatment

Vietnam still approves use of Covid antibody treatment Evusheld as it is still effective against subvariants circulating in the Southeast Asian country.

Former Coast Guard generals accused of embezzling $2.1 million

The crime allegedly started in 2019 when the Vietnam Coast Guard’s Department of Technology was allocated VNĐ150 billion (US$6.3 million) to purchase equipment.

Transport Ministry told to disburse VND94 trillion in 2023

The Government has tasked the Ministry of Transport with disbursing nearly VND94.2 trillion of public investment in 2023, up 1.7-fold against the 2022 figure and 2.2-fold versus 2021.

Banks pumped VND800 trillion into real estate in 2022

As of December 31, 2022, the outstanding loans provided to the real estate sector had reached VND800 trillion, while the figure was VND700 trillion by the end of 2021, said the Ministry of Construction, citing SBV’s (State Bank of Vietnam) figures.

Finance Ministry suggests taxing land and buildings separately

The Ministry of Finance has proposed developing a new property tax law to separate the tax on land from that on buildings.

Vietnamese movies earn over VND350 billion during Tet

Vietnamese-made films tallied more than VND350 billion in ticket sales in the first nine days of the Lunar New Year, between January 22 and January 30, according to the independent analytical website Box Office Vietnam.

Nguyen Trong Hieu's music video in finals of German Eurovision Song Contest

In a landmark moment for Vietnamese music, Nguyen Trong Hieu, winner of Vietnam Idol 2015, has announced that his latest music video has made it to the final eight in the German Eurovision Song Contest (ESC).

Vietnam's tourism revenue reaches VND46 trillion in January

Vietnam’s tourism industry generated around VND46 trillion in revenue this January, with a surge in domestic and international tourist numbers, according to the Vietnam National Administration of Tourism.

Vietnamese consume nearly 60 tons of gold in 2022

Vietnamese consumers bought 59.1 tons of gold, representing a year-on-year increase of 37 percent, the fastest increase in Southeast Asia, according to the World Gold Council.
back_to_top