Viet Nam’s government has released the Decision No. 11/2017/QD-TTg on supporting the development of solar power. The new regulation, which introduced a Feed-in Tariff (FIT) scheme for solar plants and a net metering mechanism for residential PV, came into force on Jun. 1, 2017 and expired on Jun. 30, 2019.
Under the new scheme, owners of grid-connected PV power plants were granted a 20-year FIT of 2,086 ($0.091)/kWh excluding VAT. This rate, however, was subject to change based on the VND/$ exchange rate. The power generated by all grid-connected PV installations will be sold to local power utility Electricity Viet Nam (EVN).
Furthermore, solar power producers were also exempted from paying taxes on importing goods for their fixed assets. However for net metering, Viet Nam’s Ministry of Trade and Industry will be in-charge of annually issuing the related buying and selling prices for rooftop grid-connected PV systems based on the VND/$ exchange rate.
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FIT and net metering scheme in Viet Nam
VATIS UPDATE Part
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