Solar storage inverter project financing options in Vietnam 2025

Does Vietnam need a 2025 Solar Plan?

Notably, the 2025 plan mandates that concentrated solar must include storage (minimum 10 percent of capacity, 2-hour duration), a requirement absent in the 2023 version. Vietnam’s solar panel trade is regulated under Decree 26/2023/ND-CP, which outlines the Schedule of Export Tariffs and Preferential Import Tariffs.

How is solar energy regulated in Vietnam?

Vietnam’s solar power sector is governed by a number of key regulations and policies aimed at promoting the development of renewable energy while managing the challenges associated with rapid growth.

How much does a solar plant cost in Vietnam?

Vietnam's Ministry of Industry and Trade (MoIT) has published the new feed-in tariffs for utility-scale solar plants. For projects without battery storage, the tariff will be VND 1,382.7 ($0.053)/kWh for the northern part of the country, VDN 1,107.1/kWh for the central part, and VDN 1,012.0/kWh for the southern region.

How has the FIT program impacted solar power development in Vietnam?

The FiT program has been a major driver of solar power development in Vietnam, offering a tariff of 9.35 cents per kilowatt-hour (kWh) for projects completed by June 2019. This program led to a surge in solar capacity, reaching 4.46 gigawatts of new installations.

What is the new tariff structure for solar projects in Vietnam?

Under the updated tariff structure, solar projects are now divided into ground-mounted and floating categories, and segmented further by region—North, Central, and South Vietnam. Tariffs are calibrated based on solar resource availability, infrastructure costs, and local electricity demand, with higher rates awarded to projects that integrate ESS.

Why has the Vietnamese government temporarily suspended solar projects?

To address the rapid growth and grid capacity issues, the Vietnamese government has temporarily suspended new approvals for large-scale solar projects. This measure aims to manage the grid’s ability to integrate new capacity and transition from the FiT scheme to an auction-based system for project approval and pricing.