19 Mar '13, 2pm

China May Cut Subsidy for Largest Solar Projects

China May Cut Subsidy for Largest Solar Projects

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...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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