Vietnam sees rooftop solar boom

Published onSeptember 3, 2020

Over 45,000 households and organizations in the country have installed rooftop solar panels, whose prices have been falling rapidly in recent years. Le Anh Tuan, lecturer at Can Tho University in southern Can Tho City, spent VND130 million ($5,600) to install a 3.9 kWp rooftop solar power system in his home four years ago and is now enjoying the fruits of his investment. Tuan was able to save up to VND1.2 million each month compared to using normal electricity, twice the amount of monthly deposit interests. Thai Minh Bao, a representative of World Wildlife Fund (WWF) in central Thua Thien Hue Province, said his office paid VND155 million to install a 5.2 kWp rooftop solar system in 2017. The amount of money the office was able to save each month came to around VND1 million ($43). These two are among thousands of households and organizations in Vietnam that have installed rooftop solar in recent years. As of August 23, nearly 45,300 rooftop systems were operating nationwide with a total capacity of 1,029MW, according to power utility Vietnam Electricity (EVN). These figures come amid a surging demand for power in one of the fastest growing economies in Southeast Asia. The government has been encouraging renewable energy as the country’s hydropower potential is almost fully exploited and oil and gas reserves are running low.