Renewable power projects will be given priority to buy electricity during peak hours if additional storage is installed.

The Government issued Decree No. 58 detailing a number of articles of the Electricity Law on the development of renewable energy and new energy, including providing incentive mechanisms for renewable electricity.

Solar power projects with storage investment will be given priority to buy electricity at peak times - Photo: NGOC HIEN

Decree No. 58 stipulates that power projects from renewable energy sources with installed power storage systems (BESS - PV) and connected to the national power system are given priority to mobilize during peak hours of the power system according to regulations, except for self-produced and self-consumed power sources.

Regarding the conditions and duration of application of preferential policies and support for the development of new energy power, the Decree stipulates that new energy power projects are entitled to preferential policies and support prescribed in the Electricity Law when meeting the following conditions: new energy power projects produced from 100% green hydrogen or 100% green ammonia or 100% mixture of green hydrogen and green ammonia; projects supplying electricity to the national power system; the first project for each type of new energy power.

New energy projects will be exempted from sea area usage fees during the basic construction period, but not more than 3 years from the date of commencement of construction. 50% reduction in sea area usage fees for a period of 9 years after the exemption period of the basic construction period; exemption from land use fees and land rent during the basic construction period, but not more than 3 years from the date of commencement of construction...

For offshore wind power projects, the decree regulating preferential policies and support for offshore wind power development under the Electricity Law will apply to projects that meet the conditions such as having investment decisions or approvals before January 1, 2031;

For projects supplying electricity to the national power system, the capacity must be at least 6,000 MW approved by competent authorities in the power development plan;

Projects under the above mentioned subjects will be exempted from sea area usage fees during the basic construction period but not more than 3 years from the date of commencement of construction. 50% reduction in sea area usage fees for a period of 12 years after the exemption period of the basic construction period...

Notably, for renewable power projects that cease operations, investors are allowed a dismantling period of 2-5 years depending on specific conditions.

We invite you to read the full text of Decree No. 58/2025/ND-CP HERE.

Battery storage prices have fallen

Speaking with Tuoi Tre Online , the director of an energy company said that investors of solar power farms have considered installing a battery storage system (BESS) to store electricity during off-peak hours (daytime) and resell this electricity to the national grid during peak hours (nighttime).

However, there is currently no mechanism for purchasing electricity from the electricity storage system, while the installation cost of this system is still high, so it cannot be deployed yet.

Ms. Tran Thi Thu Van - country director of SolaX Power - said that the price of storage batteries has decreased sharply in recent times and the technology has also improved a lot, the durability is better, many companies produce storage batteries so the price has decreased sharply.

According to Ms. Van, battery technology has also changed. Previously, they mainly used lead-acid batteries with a short life cycle, but now they have switched to lithium technology with a higher number of charge-discharge cycles and higher efficiency, making it easier for people and businesses to install storage systems.

Source: https://tuoitre.vn/du-an-dien-tai-tao-se-duoc-uu-tien-mua-dien-vao-gio-cao-diem-neu-lap-them-luu-tru-20250304213823911.htm