Solar power: one dong in capital can bring four dong in profit

At noon, when the temperature reaches 37oC, the solar panels on the roof of Hoang Long’s house in Nha Be district, HCMC run at full capacity.

With 16 kWp solar power generated daily, Long’s household appliances such as electric fans, refrigerator and washing machine run well.

Solar power: one dong in capital can bring four dong in profit

Long installed a rooftop solar power system three months ago and found that the system allows him to save 30 percent of expenses on electricity. With an app on smartphone, he can watch the electricity output generated at different moments of the day and switch to using electricity from the national grid when necessary.

According to the Electricity of Vietnam HCMC, there are 1,432 rooftop solar power systems with the total capacity of 17.46 MWp in the city. Households and administration centers in other provinces/cities such as Binh Phuoc, Ninh Thuan, Ha Tinh, Binh Thuan and Binh Dong have also begun using solar power in daily life and production.

The installation cost of solar power panels is getting lower, about VND21-25 million to create one kWp/h. To create 4 kWp/h, the output suitable for one household, Long has to spend VND84 million to install a system of 12 panels made in South Korea, an inverter system made in China, and some other accessories.

According to Nguyen Hoang Thuan, CEO of Nam Thien Viet Trade and Electricity System Consultancy JSC, solar power systems can generate electricity for 4.1 hours per day on average. With the installation capacity, Long can generate 16.4 kWp a day and save VND1.3 million worth of expenses on electricity a month.

If noting that the average electricity price of VND2,700 per kwh, Long will take back the investment capital after 5.27 years. It will take a shorter time if the electricity price increases.

If noting that the average electricity price of VND2,700 per kwh, Long will take back the investment capital after 5.27 years. It will take a shorter time if the electricity price increases.

If the life cycle of a solar power system is 25 years, Long’s family will be able to use electricity for free for up to 20 years.

 

A report shows that the demand for electricity in Vietnam has increased by 16-17 percent per annum, while the Electricity of Vietnam warned Vietnam may suffer from electricity shortage by 2020.

By that time, Vietnam will be an industrial country and the average consumption per head must be over 2,000 kWh per annum, or four times higher than current level.

To encourage people to use solar power, EVN in May 2019 began buying excess solar power from household-run rooftop solar power systems at the price of VND2.134 per kwh.

According to EVN HCMC, the electricity output to be provided to the national grid has reached 4.2 million kwh. With the unit price of VND2.134 per kwh, the company has to pay VND9 billion to electricity generating households.

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