Proposal to support interest and money for solar power installation

VTV.vn - The Ministry of Industry and Trade proposed financial support for households installing rooftop solar power in the form of loans from the Vietnam Bank for Social Policies.

Proposal to support interest and money for solar power installation

The Ministry of Industry and Trade is seeking comments on the draft Decision of the Prime Minister regulating support policies for households installing rooftop solar power for self-production, self-consumption and electricity storage systems.

In this draft, the Ministry of Industry and Trade proposes financial support for households installing rooftop solar power in the form of loans at the Vietnam Bank for Social Policies. The maximum loan amount for households is 40 million VND, with a preferential interest rate of 8.4%/year, a loan term of 36 months, and no collateral is required to fulfill the loan obligation. Regarding direct support for installation costs, this draft maintains the previous proposal, specifically a maximum support of 3 million VND for households installing solar power for use, including support for solar power systems with storage batteries. The above support policy is expected to take effect from the beginning of next year until the end of 2030.

Regarding the procedures for people to register when installing rooftop solar power, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized the clear development goal: By 2030, rooftop solar power capacity will account for 50% of total capacity. The Ministry does not set out difficult procedures, but requires notification so that electricity agencies can grasp information about capacity, helping to balance supply and demand. Procedures will be simplified, implemented online through the ward and commune-level information portal, with an open mechanism and incentives to sell electricity to Vietnam Electricity Group (EVN).

Mr. Bui Quoc Hung - Deputy Director of the Electricity Department added that cases of self-installation and independent use do not need to register; if you buy EVN electricity and install solar power, you only need to notify the electricity authority to manage, operate and regulate. The Ministry of Industry and Trade is perfecting the incentive mechanism and simple procedures to help people easily install and connect to the grid.

Source: https://vtv.vn/de-xuat-ho-tro-lai-vay-va-tien-cho-lap-dat-dien-mat-troi-100251010091301294.htm