MoIT aims to incentivise private solar energy for home and office

June 19, 2023 | 18:20

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The Ministry of Industry and Trade (MoIT) has submitted to the government a draft mechanism that promotes the growth of rooftop solar power installed in homes and offices for private-use. Rooftop solar power for private use will be exempt from certain business and operation licences, and may be eligible for interest rate, tax, and fee incentives.

MoIT aims to incentivise private solar energy for home and office

The MoIT has proposed incentive mechanisms for the phased implementation of the country's Power Development Plan VIII, targeting half of all office buildings and residential houses to be powered by self-produced and self-dissipating rooftop solar power by 2030.

If this mechanism is approved, homeowners and businesses that install solar panels on their rooftops will be exempt from private licences and electricity business registration certificates, and will be eligible for loans with preferential interest rates, tax exemptions, and reductions.

According to the MoIT, the development mechanism for rooftop solar power at workplaces and large-scale manufacturing sites requires further study and evaluation. In the short term, the MoIT has decided to foster the growth of power sources established on residential and commercial premises with adequate capacity without significantly impacting the operation of the power grid.

The Vietnamese government has prioritised the development of solar power on residential and commercial rooftops, particularly in regions at risk of electricity shortages, such as in the north recently, and for self-production and self-consumption.

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