Monday, May 23 2022


Households, businesses receive financial support for solar power systems

Update: June, 12/2020 - 18:14


Rooftop solar panels installed on a building in HCM City’s District 5. — VNA/VNS Photo Trần Trung

HCM CITY — Several financial incentives are being offered for households and businesses in HCM City to install rooftop solar power systems.

The city Power Corporation under Vietnam Electricity (EVN HCMC) in collaboration with relevant agencies on Thursday organised a seminar to discuss solutions on promoting rooftop solar power in the city.

Many banks and solar power solution providers introduced many investment solutions for households, offices and businesses.

Nguyễn Duy Thịnh, a representative of the Bách Khoa Energy Corporation (SolarBK), said the company will invest a capital contribution ratio of 70 - 100 per cent for businesses that have roofs suitable for installing solar panels with area of 3,000 - 10,000sq.m.

The company will be responsible for design, installation, maintenance and operation of the rooftop solar power systems.

Businesses will use all the electricity generated from rooftop solar power systems at a price lower than the market price of electricity. The systems will be owned by the businesses after the cooperation period.

The company has also signed co-operation agreements with insurance companies, including BIDV Insurance Corporation (BIC). BIC will pay insurance for the difference in the amount of electricity between the actual power amount and committed power amount.

Other solar power solution providers such as Vietnam Eco Solutions and TTC Energy Joint Stock Company are also providing investment solutions for investors with several preferential policies.

The HCM City Development Joint Stock Commercial Bank (HDBank) will provide preferential loans worth up to 70 per cent of the total cost for households and businesses to install rooftop solar power systems.

By March, HDBank had provided credit packages with preferential interest rates for many rooftop solar power projects across the country, with a total amount of VNĐ1.2 trillion (US$51.7 million).

EVN Finance said the company will provide a support package worth VNĐ1 trillion ($43 million) in loans for customers to install rooftop solar power systems in the 2020-22 period.

Bùi Trung Kiên, deputy director of EVN HCMC, said EVN HCMC has coordinated with management board of the HCM City Export Processing and Industrial Zones Authority (Hepza), and Hepza Business Association (HBA) to enhance communication activities on promoting solar power in export processing zones and industrial parks.

EVN HCMC has signed a memorandum of understanding on cooperation with solar power solution providers to offer preferential packages for business and individual customers.

By the end of May, there were 7,341 solar power systems installed in the city with a total capacity of 94.49 MWp.

From 2017 until now, the volume of electricity generated from the systems connected to the national grid has been 33.33 million KWh, excluding the volume of electricity consumed by customers.

Of the number, 102 rooftop solar power systems with capacity from 100KWp to 1,000KWp have connected to the city grid with total capacity of 37.23 MWp. — VNS

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