70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Rooftop solar: New segment helps investors diversify investment portfolios in Vietnam
Linh Pham 16:50, 2020/11/26
So far, guidelines on rooftop solar regarding policies, regulations, ways of investment, and output have been available for investors.

Rooftop solar power has been designated as an emerging energy segment in Vietnam that enables investors to expand their business.

 Rooftop solar power gains popularity in Vietnam. Photo: SolarBK

Rooftop solar in Vietnam has received growing attention in terms of both policy making and capital investment over the past years as part of the government’s efforts to increase the country’s power capacity for the double-digit annual energy growth.

As of September 2020, Vietnam is home to some 50,000 operational rooftop solar projects with a combined capacity of about 1,200 MWp, according to Vietnam Electricity (EVN).

Half of the project with capacity of 758.2 MWp were installed in the first eight months of 2020.

Industry insiders revealed that rooftop solar installation prices have dropped by half in the last three years to VND14-VND18 million (US$608-US$782) per kWp now and this has prompted increasing demand.

 Mr. Sven Ernedal, Project Director of the Renewable Energy and Energy Efficiency (4E) Project in Vietnam. Photo: GIZ Vietnam

To meet the need for understanding and overview in this sector, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH launched in October 2020 “Investment Guidelines for Commercial-Industrial Rooftop Solar Systems in Vietnam.”

The instruction is aimed to provide factual, practical and up-to-date information to developers or investors of commercial or industrial rooftop solar systems.

In a latest move, GIZ for the first time cooperated with Ho Chi Minh Hepza Businesses Association (HBA) to organize a workshop titled “Innovative Industrial & Commercial Solar Rooftop PV Power Solutions for Vietnam.”

 Mr. Tran Viet Nguyen, Vice President of Business Department of EVN. Photo: GIZ Vietnam

The workshop that was held earlier this week introduced the guidelines discussed investment opportunities for rooftop solar systems (RTS) for industry and commerce.

Main contents of the guidelines presented during the workshop included information on the development of the new RTS market in Vietnam, current policies and legal frameworks, and guidance on choosing the most suited business investment model.

The guidelines also describe all critical steps of RTS project development, and provide practical tips and insights based on the experience of companies in Vietnam that have developed rooftop solar projects in the past.

At the workshop, EVN introduced EVNSOLAR (http://solar.evn.com.vn/) – a rooftop solar platform providing a comprehensive solution for household and business investors with a roof and interested in RTS projects.

Speaking at the workshop, Mr. Tran Thien Long, HBA’s deputy chairman emphasized that businesses are paying great attention to rooftop solar after noticing the impressive market grown during the past year and a half.

Mr. Sven Ernedal, Project Director of the Renewable Energy and Energy Efficiency (4E) Project in Vietnam, expressed hope to contribute to the development of solar energy as a reliable, affordable and sustainable energy source for industry and commerce in Vietnam.

TAG: Rooftop solar investor GIZ Ho Chi Minh City business EVN
Other news
20:31, 2024/04/24
IT training urged to focus on semiconductors
With an abundant labor supply and a skilled workforce, human resources are Vietnam's greatest and most prominent advantage over other countries.
18:27, 2024/04/21
Hanoi Great Souvenir Fair 2024 to take place next week
Thousands of local and international tourists and business visitors will be in attendance.
18:24, 2024/04/21
As orders rise, Vietnamese textile firms see better prospects in 2024
In the face of unpredictable volatility, Vietnam's companies are investing in technology, innovation and production to meet the targets they have set themselves, whilst keeping a close eye on market trends.
17:38, 2024/04/21
C.bank to auction nearly 17,000 gold taels on April 22
The return of gold auctioning after more than 10 years is expected to bring gold prices closer to the global levels.
11:10, 2024/04/19
Trade ministry proposes purchasing renewable electricity mechanisms without EVN’s involvement
The draft decree stipulates that buyers must be organizations or individuals using electricity for production from a voltage level of 22 kV or higher, with an average monthly consumption of 500,000 kWh.
22:00, 2024/04/18
Australia and Vietnam develop competitive electricity markets
Climate change, energy, and environment are pillars of Australian Comprehensive Strategic Partnership with Vietnam.