Vietnam’s solar FiT program beats expectations

Published onSeptember 19, 2019

Vietnam’s renewables policymakers have been rewarded for their steady management of the solar feed-in-tariff (FiT) program with impressive renewable capacity gains, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). The report analyses Vietnam’s solar success along with the steps needed to support improved performance for Vietnam’s renewables program. Vietnam’s solar FiT program awarded a US$0.09 per kilowatt tariff (kWh) to solar developers delivering new capacity by the end of June 2019. This is a positive outcome because regional experts were cautious about whether the program offered enough upside to funders focused on market risk. In the end, the doubters were proven wrong and Vietnamese consumers will benefit from an estimated 4.46 gigawatts of new clean solar capacity.