Vietnam’s solar policy update highlights growing role of energy storage. (Photo: iStock) Vietnam’s Ministry of Industry and Trade (MOIT) has announced a new round of feed-in tariffs (FIT) for solar power, introducing location-based pricing and, for the first time, incorporating energy storage systems.
Conditions for systems with storage include a minimum storage capacity of 10% of the solar plant’s installed capacity, a charge/discharge time of 2 hours, and at least 5% of total generation used for charging the storage system. Overall, projects with storage receive higher FIT rates. Previously, Vietnam’s FiTs were relatively low.
However, in Vietnam, there is a widely held industry perception that Battery Energy Storage Systems (BESS) are not economically feasible at this moment, while the country''s first pumped storage hydropower (PSH) project Bac Ai with a capacity of 1,200 MW will not be commissioned until 20289.
Supa Waisayarat, Vietnam’s adversary consultant at Thailand’s Super Energy Corporation, noted that the new scheme supports the adoption of storage and provides developers and investors with more transparent pricing, which could encourage more power purchase agreements (PPAs) and improve financing confidence.
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This paper provides an up-to-date review of these storage technologies and energy storage systems in Vietnam’s power system today. Finally, there are a few …
1. The rapid development of variable renewable energy (RE) amid limited grid and energy storage infrastructure has led to congestion and curtailment in Vietnam. 2. The …
In modern power grid systems, energy storage plays an important role in ensuring the stability and flexibility of power supply. Energy storage technology helps to solve the …
Vietnam greenlights two new solar power plants and two large-scale battery storage systems (BESS) in its northern provinces to advance its renewable energy goals.
BESS (Battery Energy Storage System) is emerging as the key to balancing Vietnam’s power grid and unlocking renewable energy potential. SolarBK pioneers smart, …
Vietnam’s solar policy update highlights growing role of energy storage. (Photo: iStock) Vietnam’s Ministry of Industry and Trade (MOIT) …
In the report, there are expressed the need, role and challenges in developing electricity storage systems and a number of proposals to the Prime Minister, Head of Central …
This system is designed to operate optimally with both solar radiation and the electric grid. In cases where existing grid-tied solar energy systems are already in operation, …
Vietnam’s solar policy update highlights growing role of energy storage. (Photo: iStock) Vietnam’s Ministry of Industry and Trade (MOIT) has announced a new round of feed …
Việt Nam remains the fastest-growing energy market in the world, with the country''s power demand projected to see annual power demand rise by 10–12 per cent …
The BESS system at the PECC2 Innovation Hub was the largest BESS system in Vietnam at the time it began operation in 2021, reflecting PECC2’s pioneering vision and role …
Latest developments in solar power technology, energy storage advancements, photovoltaic products, and industry insights from our team of renewable energy experts.
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