The rooftop solar power system of a company at an industrial park in Bien Hoa city, Dong Nai province (Photo: VNA)Hanoi (VNA) - The Ministry of Industry and Trade (MoIT) will issue anew price mechanism for rooftop solar power this month, with prices likely to fallto below 6 US cents per kWh, according to Hoang Tien Dung, Director of theministry’s Electricity and Renewable Energy Department.
Rooftop solar power will fetch only 5.2-5.8 US cents per kWh, dependingon each project, Dung told the media.
The new rates have been calculated based on an assessment by foreignconsultants on the changes to and development of renewable energy and the priceof solar power equipment in Vietnam and around the world, he said.
Dung added that an estimate of various costs, such as those for initialinvestment, operations and maintenance, installation, and connection were also takeninto account.
The lower price is partly owing to a sharp decline in solar powerequipment prices in the recent time.
Solar panels are now far more efficient, allowing more electricity to beproduced than previously, he noted, adding that this will be beneficial to investorswhile the government can take advantage of the increasing supply of cleanenergy at affordable prices and the falling level of investment required todevelop national electricity networks.
He went on to say that, for end-users, the new rates will be much lowerthan those of Vietnam Electricity (EVN). People and businesses will be encouragedto install rooftop solar panels for their own use, instead of selling all powergenerated to the national grid to enjoy high returns, he said.
Vietnam expects to produce 25,000-26,000 MW of solar power by 2030./.
Rooftop solar power will fetch only 5.2-5.8 US cents per kWh, dependingon each project, Dung told the media.
The new rates have been calculated based on an assessment by foreignconsultants on the changes to and development of renewable energy and the priceof solar power equipment in Vietnam and around the world, he said.
Dung added that an estimate of various costs, such as those for initialinvestment, operations and maintenance, installation, and connection were also takeninto account.
The lower price is partly owing to a sharp decline in solar powerequipment prices in the recent time.
Solar panels are now far more efficient, allowing more electricity to beproduced than previously, he noted, adding that this will be beneficial to investorswhile the government can take advantage of the increasing supply of cleanenergy at affordable prices and the falling level of investment required todevelop national electricity networks.
He went on to say that, for end-users, the new rates will be much lowerthan those of Vietnam Electricity (EVN). People and businesses will be encouragedto install rooftop solar panels for their own use, instead of selling all powergenerated to the national grid to enjoy high returns, he said.
Vietnam expects to produce 25,000-26,000 MW of solar power by 2030./.
VNA
