China confirmed $435 Million for solar project subsidies in 2019
Post date: 05/06/2019 - 19:05
China’s National Energy Administration (NEA) has confirmed that it will allocate approximately CNY 3 billion ($435 million) for solar projects this year. According to consultancy Mercom Capital Group, »this is the first time that the country would be setting an annual cap on solar subsidies.« Frank Haugwitz, director of Asia Europe Clean Energy (Solar) Advisory Co. Ltd (AECEA), stated, that »the $435 million subsidies for solar projects in 2019 were communicated earlier this year and now officially confirmed. The big issue is, how much capacity can or will be supported, this is still up in the air. This information should be released in June or July, the latest.«
As reported, in mid-May the Chinese National Development and Reform Commission (NDRC) and NEA jointly released the 2019 first batch of grid parity projects for both wind and solar PV amounting to in total 20.76 GW (including PV 14.78 GW). Furthermore, in early May the Price Bureau of the NDRC announced the level of solar FIT payments for large-scale projects which will become effective from July 1, 2019.