Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Chinese Coffee Lovers Can Now Order Starbucks Through Alibaba’s Smart Speaker
Chinese Autonomous Truck Startup Raises $120 Million From UPS, Others
China to Release 10,000 Tons of Pork From Reserves Amid Short Supply
LATEST
Dajia Insurance Launches Online Shop
World’s Highest Grid Project Takes Shape on ‘Roof of the World’
Battery Giant CATL in $1.4 Billion Fund-Raising Plan
Alibaba Recruits Big-Hitters for AI Research Labs
Zhejiang Regulators May Struggle to Implement Consumer Loan Rules
Is This Chinese Local Government Using a Journalist’s Trial to Quash Dissent?
ABB Bulks Up With Huawei on Industrial Cloud
China Biologic Receives $4.6 Billion Buyout Offer
Henlius Biotech Raises $410 Million in Hong Kong IPO
Mobile Game Revenue Steadily Recovering, Report Says
China’s Cybersecurity Industry Expected to Grow 23% to $8.9 Billion
Airbus to Launch On-Demand Helicopter Services in China’s Greater Bay Area
China Oil Giants Face Uncertainties After Saudi Attacks: Sources
Chinese Coffee Lovers Can Now Order Starbucks Through Alibaba’s Smart Speaker
Tencent, Xiaomi Discover Not All Buybacks Created Equal
Huawei Launches ‘World’s Fastest AI Training Cluster’
Huawei Executive Says U.S. Government Should Include Company in Trade Talks
China Spending on Planes and Services to Total $2 Trillion by 2038, Boeing Says
Chinese Autonomous Truck Startup Raises $120 Million From UPS, Others
China to Release 10,000 Tons of Pork From Reserves Amid Short Supply
China Renewables Industry Comes of Age With Ambitious Subsidy-Free Projects

By Chen Xuewan and David Kirton / May 23, 2019 05:59 PM / Environment

The training wheels are finally coming off China’s renewable energy industry, with the government announcing 20.8 gigawatts of projects that will compete with coal and other forms of generation without subsidies for the first time.

The country will build 20.8 gigawatts (GW) of clean energy projects across 16 provinces, the National Development and Reform Commission (NDRC) and the National Energy Administration said Wednesday.

Solar power projects will account for the bulk — 14.8 GW — of projects, while wind will make 4.51 GW. Project owners will only profit from selling the electricity they generate at prices equal to or less than coal power, and will not receive a boost from the government, as they had before.

China incubated its renewable generators for almost a decade, offering generous subsidies to promote the development of technology that offered an alternative to high-polluting coal power and which had high potential for export. The country’s installed solar capacity rose tenfold in just six years to 174 gigawatts (GW), while nine out of 10 of the planets biggest solar panel exporters call the country home.

The industry’s haphazard development led to a major buildup in subsidy payments, and the government unexpectedly pulled the plug on solar subsidy support at the end of last May, sparking panic among panel makers and solar farm owners. Since then, the government has vowed that new renewable projects will have to stand on their own feet.

The provinces of Guangdong and Heilongjiang will be home to the lion’s share of subsidy-free projects, developing 3GW each. Shaanxi and Henan provinces, and the Guangxi Zhuang Autonomous Region, are also strongly represented, with 2GW of projects each.

Related: China Puts Another Nail in the Coffin of Renewable Power Subsidies

Share this article
Open WeChat and scan the QR code