Tiếng ViệtThe government has recently issued Decree No. 58, detailing certain provisions of the Electricity Law regarding the development of renewable energy and new energy power generation. This decree marks an important step in promoting the clean energy sector in Vietnam, with a series of policies and incentives for businesses.
One of the highlights of this Decree is the prioritization of energy storage systems for renewable energy projects. Projects that install energy storage systems and are connected to the national grid will be prioritized for dispatch during peak hours, except for self-generation, self-consumption electricity projects.
Additionally, the government has committed to supporting research and application of technologies in the renewable energy sector. The state will accelerate programs for researching and manufacturing solar panels, wind turbines, and power conversion equipment to improve efficiency and reduce investment costs.
Notably, renewable energy projects using 100% green hydrogen, green ammonia, or a combination of both will receive strong support from the government. Projects that supply electricity to the national grid or are pioneers in new energy types will also be prioritized in policy support.
Special Incentives for Businesses Investing in Renewable Energy
To encourage businesses to invest in the renewable energy sector, the government has introduced various attractive incentive mechanisms. Specifically, businesses will be exempt from paying for the use of marine areas during the construction period, up to a maximum of 3 years from the start of construction. After that, for the next 9 years, businesses will receive a 50% reduction in the cost of using marine areas. Additionally, businesses will be exempt from land use fees and land lease payments during the construction period, but not exceeding 3 years from the commencement date. These policies will significantly reduce initial investment costs and create favorable conditions for businesses to participate in the clean energy race.
This new decree also specifies regulations for self-produced, self-consumed rooftop solar power systems. According to the regulations, any surplus electricity that is not consumed can be sold to the national grid, with a maximum of 20% of the actual installed capacity. For other renewable energy sources such as wind, solar, or biomass power, the maximum amount of surplus electricity that can be sold is 10%.
The cost of purchasing surplus electricity from renewable energy sources will be updated in the input parameters when calculating the annual wholesale and retail electricity pricing schemes of EVN (Vietnam Electricity). This ensures transparency and fairness in the trade of renewable electricity.
With strong incentives and support mechanisms from the government, businesses in the renewable energy sector will have many opportunities for sustainable development. Investing in clean energy not only helps businesses save costs and benefit from preferential policies, but also plays an important role in the energy transition process, towards a green and sustainable economy for Vietnam.