Proposal to support up to 3 million VND for households installing rooftop solar panels

Households that install rooftop solar power for self-production and self-consumption can receive support of up to 3 million VND, with loans at an interest rate of 8.4%/year.

The Ministry of Industry and Trade has just submitted a dossier requesting the Ministry of Justice to appraise 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. The Ministry of Industry and Trade submitted a number of issues to the Prime Minister for consideration and decision.

In terms of scope of regulation, the Ministry of Industry and Trade recommends a support policy for households installing self-produced, self-consumed rooftop solar power and electricity storage systems in individual homes with financial support and technical support; in terms of name and scope of regulation, it has a narrower scope, only regulating the support policy for households installing self-produced, self-consumed rooftop solar power and electricity storage systems.

According to the Ministry of Industry and Trade, the period of financial and technical support for households installing self-produced, self-consumed rooftop solar power and electricity storage systems is from the effective date of this Decision until the end of 2030.

At this stage, the Ministry proposes to only provide financial and technical support to individual households that install self-produced, self-consumed rooftop solar power and electricity storage systems (financial support includes: Support for installation costs from the State budget, investment costs for installing 2-way electricity meters agreed upon by households with electricity buyers, and support for loans from banks).

The minimum support level for household solar power installation is 1 million VND but not exceeding 1.5 million VND (not including electricity storage system).

In case of installing a power storage system synchronized with household solar power, the minimum additional support is 1 million VND but not exceeding 1.5 million VND.

With about 28 million households nationwide, to achieve the target of 50% of households (about 14 million households) installing rooftop solar power for self-production and self-consumption according to Power Plan VIII, the direct support amount can be up to about 42,000 billion VND in the period from 2026-2030, on average each locality is about 250 billion VND/province/year (not including the support source for installing two-way electricity meters agreed upon by the household owner with the buyer of excess electricity, and support for investment loans for installation from the social policy bank).

The Ministry of Industry and Trade proposes to support rooftop solar power installation from 2026 to 2030

Households installing rooftop solar panels can borrow at an interest rate of 8.4%/year

However, the Ministry of Industry and Trade also said that this support level is the maximum, and in reality it depends on local budget conditions and household installation needs.

Regarding bank loans, in draft 2 of the Decision, the Ministry of Industry and Trade sent to the Ministries, agencies, and localities for comments. The drafting team proposed a form of interest rate support through commercial banks from the state budget.

However, in its comments on the draft, the State Bank of Vietnam stated that through the monitoring process, it found that the form of interest rate support had many difficulties and shortcomings, and was not a suitable and effective method to support customers.

Accordingly, the Ministry of Industry and Trade organized a working session with the State Bank of Vietnam, the Ministry of Finance, EVN and the Vietnam Bank for Social Policies, thereby receiving opinions and proposing a method of supporting loans through the Vietnam Bank for Social Policies to support households in need of loans (the Vietnam Bank for Social Policies proposed a loan interest rate of 8.4%/year and an overdue debt interest rate of 130% of the loan interest rate) in the draft Decision.

(Source: Lao Dong Newspaper)

Link: https://nld.com.vn/de-xuat-ho-tro-toi-3-trieu-dong-vay-uu-dai-84-nam-cho-ho-dan-lap-dien-mat-troi-mai-nha-19625100916460405.htm?fbclid=IwY2xj awNUhXJleHRuA2FlbQIxMABicmlkETFNRmFMbGY5UU9xdlk0MndXAR6xmZQryNKgezosrzvKSHX6lQP-kMrKeieg_aQh_ogJlV9gi_xR_xD7a99RLg_aem_dDBgGpilppHBl88Uey0ZnA

Source: https://vtcnews.vn/de-xuat-ho-tro-toi-3-trieu-dong-cho-ho-dan-lap-dien-mat-troi-mai-nha-ar970312.html