星期二, 1月 26, 2021
Home PV News Asia China seen cutting subsidy for largest solar projects

China seen cutting subsidy for largest solar projects

China, forecast to become the biggest solar market this year, may restructure its subsidies to favor smaller projects over larger ones to promote new plants in in areas with power shortages, an industry official said.

A new policy may abolish one-time subsidies, Meng Xiangan, vice chairman of the China Renewable Energy Society in Beijing, said in an interview. At the same time, a separate subsidy based on power production would be extended to low-voltage plants that don’t typically supply utilities, he said. Meng’s organization acts as a liaison between the government and industry.

Should the government confirm the move, incentives under the Golden Sun program would shrink just as China calls on developers to install more photovoltaic devices than any other country. Its manufacturers already are hurting. Suntech Power Holdings Co., the world’s biggest solar-panel maker in 2011, has become unprofitable and stopped paying on its bonds last week.

“The wave of solar industry consolidation that’s hit Europe and the U.S. is coming to China,” said Nathanael Greene, director of renewable energy policy at the Natural Resources Defense Council in New York. “China’s manufacturers are counting on domestic market growth this year, so major cuts in incentives could really hurt.”

The government picked hundreds of developers last year, including Yingli Green Energy Holding Co. and Trina Solar Ltd., to get subsidies as demand for their solar devices slumped in Europe. Meng didn’t mention names of companies that could be most affected by a policy change.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

New Energy Equity adds 326 kW of solar to municipal buildings in Norton Shores, Michigan

New Energy Equity, along with its development partner Chart House Energy, has completed a 326-kWDC solar development project consisting of three separate municipal buildings...

PG&E announces 387 MW/1,548 MWh of energy storage capacity in latest project announcement

Pacific Gas and Electric Company (PG&E) has requested approval from the California Public Utilities Commission (CPUC) for six new battery projects totaling 387 MW...

NEP releases 500-W microinverter for large-format panels

Silicon Valley-based Northern Electric Power Technology (NEP) has released a new 500-W microinverter. The company is calling it a “macroinverter” since it is able...

Solar investment tax credit extended at 26% for two additional years

Story updated Dec. 22 after successful passage of the bill by Congress. Extended renewable energy tax credits have been included in a $1.4 trillion federal...