Vietnam rooftop solar records major boom as more than 9GW installed in 2020

Published onJanuary 7, 2021

Rooftop solar installations skyrocketed in Vietnam last year prior to a hard installation deadline for feed-in tariffs, with more than 9GWp of rooftop solar installed in the country. Throughout 2020 rooftop solar installations in Vietnam grew by a major 2,435%, rising from a 2019 base of 378MWp to 9.583GWp, spread across almost 102,000 systems. The growth figures are confirmed by state-owned Vietnam Electricity (EVN), though the numbers have been further revised upward in the past day. Vietnam rooftop solar installations grew steadily in H1 2020 despite the pandemic and a nationwide lockdown period imposed in the country. Rooftop solar growth continued to accelerate throughout Q3 2020, before skyrocketing in December 2020. Vietnam’s tremendous rooftop solar market was driven by a second iteration, FIT2 (feed-in tariff) policy paying USD $0.0838 per kWh over a period of 20 years for systems with a Commercial Operation Date of 31 December 2020 at the latest. The FIT2 was only finalised in early April 2020 after initial expectations were for an extension of the original USD $0.0935 per kWh rooftop solar FIT.