Since the transaction costs are lower on a first-come, first-served basis than under competitive bidding, this approach is still widely applied, including in Viet Nam and in the Philippines (ADB, 2015). By including more criteria for selecting the projects, such as financial viability, environmental impact and grid connection access, the government could create a more stable investment environment while incentivising cost-efficiency. Another option is to combine a fixed tariff with a competitive bidding process. Under Thailand’s new FIT system, fixed tariffs will be granted based on competitive bidding (OECD, 2016).