“Widening roads” for accessing household-sized solar power

Only after a few years, thanks to the breakthrough development in technology, the cost for installing rooftop solar power system in Vietnam has drastically decreased, bringing great opportunities for households and enterprises to access to this clean energy source.

According to the assessment from the Southern Power Corporation, currently, power plants in the Southern area have not met the demand of power load. It is forecasted that from the period of 2021 - 2022, there will be a shortage of about 1.2 - 1.6 billion kWh/year and this figure could be higher in case the construction completion of coal-fired thermal power plants could not meet the schedule.

Mr. Nguyen Tien Loc - Deputy President of Viet Nam Electro-technical Industry Association said that rooftop solar for households was the efficient solution to both the Power sector and society.

However, one of the most binding barriers for households accessing this clean energy source is the huge investment costs and the lack of financial support from banks.

To remove this barrier, Solar BK Holdings has launched the solution package of BigK to the market.

Mr. Nguyen Vu Nguyen - Director of Maketing Solar GATES (member of Solar BK Holdings) said, its was the first solution package for rooftop solar power in Viet Nam with power output insurance and financial services support. In addition to bringing many benefits in terms of energy, households investing in solar power were also entitled to preferential rates at low prices. BigK was launched for households with a capacity of from 2 - 10kWp.

Right at the launching ceremony of BigK on 20 September 2018, the cooperation signing session to provide power output package for solar solution BigK between SolarGATES and BIC Insurance Company; to provide, support financial services to customers between SolarGATES and BIDV was organized.

This is the first time in Viet Nam that the field of solar power investment has been assured by an independent third organization for power output, and provided financial services by a bank. The goal of the cooperation is to contribute to consolidating confidence for consumers to use this useful, economical and friendly clean energy source.

With the cooperation between SolarBK Holdings and BIC, from 1 August 2018 to 31 July 2019, customers will be further provided with assurance package of power output from BIC when purchasing BigK. The insured power output will be equal to 75% of the generating system’s expected output for a 5-year period from the issuing date of insurance certificate by SolarGATES.

For financial services between SolarBK Holdings and BIDV, customers of BigK will be further supported with preferential loans of 12 to 36 months provided by BIDV Vung Tau Con Dao. Particularly, SolarBK Holdings will deploy the program of interest rate support to customers for first 12 months in the period from 20 September 2018 to 31 October 2018.

About five years ago, the investment price of solar energy package was VND 60 million/Wp while that for BigK solution is now only over VND 23 million/Wp. In addition to the bank’s loan support up to 70% rate, repayment capacity within 5 years and profitable capacity from 20 to 25 years is a favourable condition for many households to easily use rooftop solar power.

Mr. Dang Thanh Hien - Director of BIC Vung Tau said that it was the first time that an insurance company involved in the field of rooftop solar energy for households. Accordingly, BIC will take responsibility to pay for customers if the power capacity fails to reach the committed level.

  • 24/09/2018 10:45
  • evn.com.vn