China will no longer support large solar power plants as of 2020
Post date: 22/11/2019 - 12:30
The Chinese government will no longer provide subsidies for large solar power plants from 2020. Only »distributed» plants – which in China certainly include installations up to the megawatt range – will continue to receive subsidies. This is reported by the Reuters news agency with reference to the Chinese Ministry of Finance. As of 2021, onshore wind power plants will also no longer receive subsidies.
According to the report, the overall budget for renewable energy plants will be reduced from 8.1 billion yuan ($1.15 billion) this year to 5.67 billion yuan ($806 million) in 2020. Almost half of this amount (2.63 billion yuan) is still earmarked for photovoltaics, and 2.97 billion yuan will go to wind power projects. A small share of 1.3 percent (73.4 million yuan) is earmarked for biomass power plants.