Government Proposes Incentives To Boost Rooftop Solar Power Systems In Vietnam

In order to promote the development of rooftop solar power systems for self-consumption, the Ministry of Industry and Trade (MoIT) has proposed a mechanism with various incentives.

Investors who choose to invest in and utilize rooftop solar power will enjoy benefits such as exemption from power operation licenses and electricity business registration certificates.

They will also receive priority in budgetary allocation, tax exemptions or reductions, and access to loans with preferential interest rates. The capacity of the rooftop solar systems is not limited, as long as they comply with regulations related to electrical safety, construction safety, environmental protection, and fire prevention.

Ministries and local authorities will issue guidelines to simplify procedures for construction, fire prevention and control, and ensure electrical safety for buildings with rooftop solar power systems.

The State Bank will work on reducing lending rates or designing a preferential lending package specifically for the northern region. The Ministry of Finance will allocate budget resources to support the development of rooftop solar power systems in office buildings and explore options for tax and fee breaks.

These incentives align with the Power Development Plan VIII, which aims to have half of the country’s office buildings and homes powered by rooftop solar panels by 2030.

However, these systems will not be connected to the national grid. The draft proposal also outlines the responsibilities of various stakeholders in the investment and use of rooftop solar power systems.