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

The government issued Decree No. 58, which details certain provisions of the Electricity Law regarding the development of renewable energy and new energy sources, including incentive mechanisms for renewable energy.

Solar power projects with storage investments will be given priority for electricity purchase during peak hours - Photo: NGOC HIEN

Decree No. 58 stipulates that renewable energy projects equipped with battery storage systems (BESS - PV) and connected to the national power grid are given priority for mobilization during peak hours of the power system as prescribed, except for self-produced and self-consumed electricity sources.

Regarding the conditions and timeframe for applying preferential policies and support for the development of new energy sources, the decree stipulates that new energy projects are eligible for preferential policies and support as prescribed in the Electricity Law when they meet the following conditions: the new energy project produces electricity from 100% green hydrogen or 100% green ammonia or 100% a mixture of green hydrogen and green ammonia; the project supplies electricity to the national power grid; and it is the first project of its kind for each type of new energy source.

New energy projects will be exempt from sea area use fees during the basic construction period, but not exceeding 3 years from the commencement date. A 50% reduction in sea area use fees will be granted for 9 years following the exemption period of the basic construction phase; land use fees and land lease fees will also be exempted during the basic construction period, but not exceeding 3 years from the commencement date...

For offshore wind power projects, the decree stipulating preferential policies and support for the development of offshore wind power under the Electricity Law will apply to projects that meet conditions such as having their investment policy decided or approved before January 1, 2031;

For projects supplying electricity to the national grid, the capacity must be within the 6,000 MW range as approved by the competent authority in the power development plan;

Projects falling under the aforementioned categories will be exempt from sea area usage fees during the basic construction period, but not exceeding 3 years from the commencement date of construction. A 50% reduction in sea area usage fees will be granted for a period of 12 years following the exemption period of the basic construction phase...

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

Please read the full text of Decree No. 58/2025/ND-CP HERE.

Battery prices have dropped.

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

However, there is currently no mechanism for pricing electricity purchased from energy storage systems, and the installation costs are still high, so implementation is not yet feasible.

Ms. Tran Thi Thu Van, country director of SolaX Power, said that the price of storage batteries has dropped sharply recently, and the technology has also improved significantly, with better durability and more manufacturers producing storage batteries, resulting in a substantial price reduction.

According to Ms. Van, battery technology has also changed. Previously, mainly lead-acid batteries with a short lifespan were used, but now there is a shift 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