Development and Techno-Economic Analysis of Solar Power Plant Projects in Vietnam

As global energy demand continues to rise, concerns about climate change, environmental issues, and the depletion of fossil fuel resources require a careful consideration of the use of renewable energy, including solar energy. Vietnam's solar power plant (SPP) capacity has expanded considerably in recent years. However, technical and economic calculations for large-scale solar power plants and comparisons with other power plants are still limited. In this paper, the technical and economic aspects of solar power plants will be evaluated, with key economic indicators such as net present value (NPV), levelized cost of energy (LCOE), internal rate of return (IRR), benefit-cost ratio (BCR), and payback period (PB) being analyzed for both current and future scenarios. The results show that all power plants are economically effective. Furthermore, with investment costs for solar power plants decreasing rapidly, solar power plants will have high economic efficiency in the future. The useful information for investing and developing renewable energy policies in Vietnam is also presented in this paper.