Authorities in the Vietnamese capital are now offering to pay Hanoians who produce solar power and sell it back to the grid.
Hanoi Power Corporation will meter generated electricity and also send out registration forms to those interesting in selling solar power.
The move follows a similar initiative launched in Saigon, where around 50 households and businesses have signed up to sell their surplus power at a feed-in tariff of 9.35 cents per kilowatt-hour. From 2020, the rates will be set annually, depending on the exchange rate.
The developments also follow a growing trend across the country. Earlier this year, Vietnam’s largest solar panel officially opened in Dak Lak. Meanwhile, Singapore-based Sunseap Group began construction on a US$150 million solar farm in Ninh Thuan Province, where a Vietnamese group is also building one at the cost of US$52 million. Plants are also being built in Binh Thuan and Quang Tri provinces.
Most of Vietnam’s electricity comes from a diverse range of sources. According to figures released in 2016, 38% came from hydropower, 34% from coal, 18% from gas and 3% from oil. Other renewables currently account for less than 7% of generated electricity.
With almost all available hydropower now tapped into, however, and electricity demand expected to increase by 8% annually, solar power may prove increasingly important in Vietnam.
[Photo via Eco Business]
