News

Regulation

Clarist Zablan

, China

Published:

4 years ago

China cuts subsidy for new solar projects in 2020

The total subsidy for solar will average $214m for the year.

The National Development and Reform Commission (NDRC) of China has finalised its solar PV subsidy policy for 2020, taking into account the permitting rules set by the National Energy Administration (NEA) for the construction of new projects.

Distributed PV and utility projects seeking financial support from the central government will have to go through a bidding process.

The guiding prices for utility PV per kWh were cut by $0.007 (CNY0.05) to $0.0495 (CNY0.35) for projects in zone 1, to $0.057 (CNY0.4) for projects in zone 2, and to $0.069 (CNY0.49) for projects in zone 3. The subsidy per kWh for residential PV and some distributed PVs fell by 50% ($0.0014 or CNY0.1) and 56% ($0.007 or CNY0.05), respectively.

According to the Ministry of Finance (MOF) of China, the total subsidy for solar PV will be halved compared to 2019 and will average $214m (CNY1.5b) in 2020, including $142m (CNY1b) for bidding projects and $71m (CNY500m) for residential rooftop PV.

This article was originally published by Enerdata.

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