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Thursday, July 25, 2024

Deputy PM urges investment in energy storage

By T. Dao

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HCMC – Deputy Prime Minister Tran Hong Ha has called on the Ministry of Industry and Trade to encourage businesses to invest in energy storage equipment at solar farms.

This was discussed at a meeting on Wednesday where a draft Government decree on direct power purchase agreements between renewable energy generators and large electricity consumers was reviewed.

The deputy PM stressed the need for enhanced energy storage to stabilize the renewable energy supply. The proposal aims to improve the reliability and efficiency of the electricity grid as the country increases its solar energy capacity.

The Ministry of Industry and Trade was also asked to clarify the responsibilities of the electricity sector in ensuring system safety while providing transmission services through the national grid. This includes setting guidelines for the direct sale of renewable energy from producers to large consumers.

Financial incentives, such as tax breaks, interest subsidies, and reduced installation costs, are being considered to support households in installing rooftop solar systems with energy storage devices. These measures are designed to encourage both self-consumption and the sale of surplus electricity back to the national grid.

The draft decree proposes simplifying administrative procedures and mandating the installation of rooftop solar systems in publicly funded construction projects. Technical solutions are being developed to ensure the safety of large-capacity rooftop solar installations in industrial zones.

Discussions at the meeting also focused on expanding the concept of self-produced, self-consumed energy. This would allow households to sell excess rooftop solar power to the grid. The decree will address pricing, installation procedures, and safety standards for integrating solar power into existing and new buildings.

Vietnam aims to create a more resilient and sustainable energy future by incentivizing investment in energy storage and streamlining regulatory processes.

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