How has the FIT program impacted solar power development in Vietnam?

The FiT program has been a major driver of solar power development in Vietnam, offering a tariff of 9.35 cents per kilowatt-hour (kWh) for projects completed by June 2019. This program led to a surge in solar capacity, reaching 4.46 gigawatts of new installations.

How is solar energy regulated in Vietnam?

Vietnam’s solar power sector is governed by a number of key regulations and policies aimed at promoting the development of renewable energy while managing the challenges associated with rapid growth.

Why has the Vietnamese government temporarily suspended solar projects?

To address the rapid growth and grid capacity issues, the Vietnamese government has temporarily suspended new approvals for large-scale solar projects. This measure aims to manage the grid’s ability to integrate new capacity and transition from the FiT scheme to an auction-based system for project approval and pricing.

Does Vietnam have a solar power industry?

Vietnam’s solar power industry has grown rapidly since 2017, driven by generous feed-in tariffs and strong government support. The country now has one of the highest installed solar capacities in Southeast Asia, contributing significantly to its renewable energy goals. 2. What challenges is Vietnam’s solar power sector facing?

How much solar power does Vietnam have?

This included 16 billion kWh from solar power and 7.3 billion kWh from wind energy, according to data from Vietnam Electricity. Solar power, in particular, has seen significant expansion due to the implementation of feed-in tariffs and the increasing adoption of rooftop solar systems.

Does Vietnam need a 2025 Solar Plan?

Notably, the 2025 plan mandates that concentrated solar must include storage (minimum 10 percent of capacity, 2-hour duration), a requirement absent in the 2023 version. Vietnam’s solar panel trade is regulated under Decree 26/2023/ND-CP, which outlines the Schedule of Export Tariffs and Preferential Import Tariffs.