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China's central government will halt subsidies for some types of renewables, including new onshore wind projects, concentrated solar photovoltaic power plants and distributed solar photovoltaic projects for commercial use, effective Aug. 1, the National Development and Reform Commission said June 11. Not registered?
China will remove subsidies for new centralized photovoltaic stations, distributed photovoltaic projects and onshore wind power projects from the central government budget in 2021 and work toward grid parity, the National Development and Reform Commission announced in mid-June.
Subsidies for onshore wind and solar power projects date back to 2009, when subsidy incentives drove rapid development of the country's new energy installed capacity. However, the generous subsidies previously allocated over the past few years weighed on central government finances and led to an increasing subsidy gap.
Qian Jing, vice-president of module maker JinkoSolar, said the policies mark the era wherein wind and solar power finally enter the subsidy-free age. The policies could ensure that newly built wind power and photovoltaic projects can achieve reasonable profits, while directing investment in an efficient way, Qian said.
The motivation behind the cut was that China wanted to ensure the local solar industry was economically sustainable over the long term. However, more recently, China’s finance ministry committed to granting 57 percent more subsidies to solar power projects this year, but cut subsidies for wind power.
Policy variables. A government subsidy (Subsidy) for residential photovoltaics mainly refers to power generation subsidies, that is, a monetary reward for every kilowatt-hour of electricity generated by solar panels. The subsidy standards for each household are obtained from the National Development and Reform Commission (NDRC).
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