The price of installing solar PV for households is getting cheaper, but is it really worth the investment?

Electricity prices are increasing, the demand for reuse never decreases. Especially in the hot summer months when everyone has to turn on the air conditioner, the electricity bill is up to a million dong. That is why many Vietnamese families consider installing solar panels with the expectation of both saving money for the future and environmental protection. However, many people are still confused because it is not clear whether that investment of tens of millions of VND is really worth it.

Benefits of solar power

First, let’s look at the reasons that households should consider investing in a home solar system. The following only mention the benefits of sharing the solar power system with the national grid.

Solar power system need what?

Usually solar power systems have two forms: grid-connected and independent electricity. In particular, grid-connected electricity has a much cheaper price (because it is not needed accumulator electricity storage) and best suited to the needs of households in Vietnam. Specifically, here are the required components of a grid-connected solar power system and their use purposes:

Solar panels: “Sucks” energy from the sun and turns it into electric current

Grid tie: Converts current from solar panels to suitable alternating current, combining electricity from solar cells with the national grid

Monitoring system: Ensure components operate stably, detect problems, often accompanied by software to monitor and report bugs to users and service providers for timely repair

How much does it cost to get enough electricity to use it?

In fact, with grid-connected power system, households do not need to worry too much, because a little investment is fine, just more is better.

For example, if you just want to “try it out” or a house with few people, you can install compact systems with low capacity 1 – 2kWp for 10-20 million VND, or to use comfortably for 3 – 4 city houses. For pellets, it is possible to choose higher capacity systems corresponding to a correspondingly high price.

Of course, the amount of electricity that the solar cell system generates may not be enough to use, especially in sunny seasons / regions, but you do not need to worry because tie The grid has been automatically adjusted in combination with the national grid so that the power used is always at the most stable level. In addition, a small note is that if the power is lost, the solar power system will not work if not used with accumulator reserve rules.

Is it really frugal as it is rumored?

For a simple example, if on average, your family spends 1 million VND on electricity bills each month, in 25 years it will cost at least 300 million VND, not to mention the electricity price increases over time.

If the solar battery system is installed about 50 million VND, the additional costs incurred when maintaining and replacing the components can reach over 100 million VND during that 25 year period.

Of course, the solar power system can only meet about 50-70% of daily electricity use, which means you “only” save about 150 to 200 million VND. Subtracting the installation costs and arising costs from this number, the balance is still 50 to 100 million VND during 25 years.

The above figures are only estimates and actual usage will still change many times. However, converting to solar power in general will still be a worthwhile and even profitable investment if the system you install generates enough electricity to sell back to Vietnam Electricity Company.

Important notes when installing and using solar power

Some locations for solar PV installations in Vietnam