Vietnam’s Ministry of Industry and Trade has officially announced its electricity generation price framework. The Decision, effective upon signing, establishes maximum electricity generation prices (excluding VAT) for both solar power plants without and with battery storage systems, differentiated by region (North, Central, and South).
NB: The US dollar conversions are a rough guide only. The Decision only states prices in VND. Exchange rate US$1 = VND 26,000.
Maximum Price (excluding VAT) for Solar Power Plants without Battery Storage (VND/kWh | US$/kWh approx.):
| North (VND) | North (US$) | Central (VND) | Central (US$) | South (VND) | South (US$) | |
| Ground mounted solar power | 1,382.7 | $0.0532 | 1,107.1 | $0.0426 | 1,012.0 | $0.0389 |
| Floating solar power | 1,685.8 | $0.0648 | 1,336.1 | $0.0514 | 1,228.2 | $0.0472 |
Maximum Price (excluding VAT) for Solar Power Plants with Battery Storage Systems (VND/kWh | US$/kWh approx.):
| North (VND) | North (US$) | Central (VND) | Central (US$) | South (US$) | South (US$) | |
| Ground mounted solar power | 1,571.98 | $0.0605 | 1,257.05 | $0.0483 | 1,149.86 | $0.0442 |
| Floating solar power | 1,876.57 | $0.0722 | 1,487.18 | $0.0572 | 1,367.13 | $0.0526 |
Battery Storage System Parameters (used for calculating prices with storage):
- Capacity: Minimum 10% of the solar power plant’s capacity.
- Storage/discharge time: 02 hours.
- Charging power output ratio: 5% of solar power plant output.
This new price framework provides clarity and a regulatory foundation for the development and investment in solar power projects across Vietnam. It distinguishes between technologies with and without energy storage, acknowledging the added value of battery systems in ensuring grid stability.
See also: Vietnam’s Solar Power Industry