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In the first five months of this year, the Vietnamese market added 274MW of rooftop photovoltaics. As of the end of July 2020, the total installed capacity of rooftop photovoltaics reached 925.8MW. And this number was still 378MW at the end of 2019...
In the first five months of this year, the Vietnamese market added 274MW of rooftop photovoltaics. As of the end of July 2020, the total installed capacity of rooftop photovoltaics reached 925.8MW. And this number was still 378MW at the end of 2019. In other words, from January to July this year, Vietnam added 547.8MW of rooftop photovoltaics. More than half of the capacity is composed of industrial and commercial rooftop photovoltaic systems.
Due to higher electricity price subsidies and actual electricity demand, industry and commerce have become a hot spot for photovoltaic development in Vietnam this year. Some developers have jointly invested and developed rooftop solar projects with related companies. The market generally believes that by 2030, the total installed capacity of rooftop photovoltaic power in Vietnam will reach more than 4GW. Among them, industrial and commercial projects will occupy 95% of the market share.
According to data provided by the analysis agency, from January to July this year, Chinese manufacturers exported 2.43GW of photovoltaic modules to Vietnam. Among them, shipments in July rose significantly, approaching 1GW. This is mainly due to the concentrated outbreak of overseas epidemics in April, and Vietnam has also adopted corresponding prevention and control measures. However, the fourth quarter is facing the end of the year rush to install, and it is too late to focus on delivery. Therefore, the third quarter will be the time for Vietnam to concentrate on sourcing. In addition to components, China's inverters also occupy a large portion of Vietnam's market share.
According to a report by "Vietnam News" on September 11: It is estimated that by 2025, the national electricity demand will grow at an annual rate of 8.5%. Electricity demand reached 90GW. In the face of rapidly increasing power demand, photovoltaic investment is concentrated in 2019 and 2020. Many industry insiders said that Vietnam is very likely to face a new round of subsidy reduction in 2021, and it is still a hot spot for photovoltaic investment.
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