Delegates attending the webinar
At the webinar, consultants and energy experts analyzed the current situation and presented solutions to optimize the utilization and operation of renewable energy resources in the Vietnamese power system. Specifically, Vietnam needs to issue a FIT pricing mechanism that varies by region or time, or load demands. The current nationwide FIT pricing mechanism has been encouraging investors to focus on areas with favorable natural conditions, which has led to local grid congestions in certain areas.
In addition, solutions include encouraging investors to equip energy storage systems; promoting solutions for automation/digitization of power grid; investing in ultra-high voltage direct current (HVDC) power transmission grid; upgrading and expanding transmission capacity of the current power grid, etc.
At the same time, it is necessary to issue regulations on the principle of priority order for dispatching renewable energy power resources. Currently, renewable energy resources in Vietnam are being prioritized to be dispatched. This order of preference can be replaced by more efficient methods, such as Levelized cost-based prioritization.
The delegates also recommended that Vietnam should implement the Virtual Power Plant (VPP) model: integrating a group of small-scale distributed energy resources (including renewable and conventional power stations), loads and energy storage systems to operate as a power plant. A virtual power plant can store energy when renewable energy resources are redundant, thereby limiting the curtailment of renewable energy resources. In contrast, a virtual power plant can generate power from the stored resource to cover the shortage of power in the power grid.