Hanoi 5kw independent solar power generation system

Why is solar power important in Vietnam?

As Vietnam continues its rapid economic development, the demand for sustainable and reliable energy sources has never been more critical. Solar power has emerged as a key component of Vietnam’s strategy to diversify its energy portfolio and reduce its carbon footprint.

Why should investors invest in solar power in Vietnam?

The evolution of Vietnam’s regulatory framework, designed to stimulate the growth of solar power in the country, align with national sustainability goals, and enhance energy security through the diversification of renewable energy sources, is a promising sign for investors looking to do business in this space.

Who buys surplus electricity in Vietnam?

The surplus electricity buyers are also now different. Under Decree 135, Vietnam Electricity (“ EVN ”) or its authorized units were the direct buyers of surplus electricity. According to Article 3.2 of Decree 58, subsidiaries and authorized member units of EVN are now the buyers.

What is PDP VIII & how will it affect solar power?

PDP VIII sets ambitious capacity targets for solar power. By 2030, the capacity is projected to reach approximately 12,836 MW, accounting for 8.5% of the total power capacity. This includes 10,236 MW from concentrated solar power and 2,600 MW from self-production and self-consumption solar power.