China

1. Policy Title: Notice on Improving the Pricing Mechanism to Promote Local Consumption of New Energy Power Generation Release Date: 2025-09-09 (Effective from 2025-10-01) Key Points: The notice clarifies the pricing mechanism and market-based settlement rules for "local consumption" of new energy power generation, promotes the combination of self-generation and self-consumption with surplus electricity fed into the grid, and reduces the risk of curtailment of PV power generation. Explanation: The National Development and Reform Commission (NDRC) and the National Energy Administration jointly issued this notice, requiring new energy projects to prioritize local consumption. It specifies the proportion arrangement for "self-generation and self-consumption, surplus electricity fed into the grid" and the cost-sharing mechanism, while strengthening the connection with the spot market and ancillary service markets. The document emphasizes that by establishing a more reasonable pricing mechanism and incentives/constraints, administrative intervention will be gradually reduced, promoting market participation for new energy power generation entities like PV. This will facilitate the local consumption of distributed PV projects and large-scale base projects, alleviate cross-regional transmission pressure, optimize grid dispatch, and enhance system operational security.

2. Policy Title: The Ninth Batch of Renewable Energy Power Generation Subsidy Project List Release Date: 2025-09-18 Key Points: Announcement of a new batch of renewable energy projects eligible for central government subsidies, involving PV, wind power, etc. Explanation: Financial subsidies are an important support measure for China's new energy industry. The release of the ninth batch subsidy project list further clarifies which PV projects are eligible for subsidies. Being included in the list provides greater certainty for project capital recovery and financial financing. Although subsidies have been gradually phased down in recent years, the release of this list still demonstrates policy continuity from the central government for certain projects, which helps boost investor confidence. It particularly has a positive effect on the construction progress and grid connection implementation of large-scale base PV projects in central and western regions and some distributed PV projects.

Europe (EU)

1. Policy Title: CINEA / CEF Energy Fifth Round of Cross-Border Renewable Energy Funding (Call and Funding Decision) Release Date: 2025-09-02 (Call Launch); 2025-09-22 (Funding Decision) Key Points: The EU provides funding for cross-border power transmission and clean energy projects like PV through the CEF-Energy mechanism, strengthening electricity interconnection among member states. Explanation: The European Climate, Infrastructure and Environment Executive Agency (CINEA) launched and announced the fifth round of Cross-Border Renewable Energy (CB-RES) funding call in September, followed by the announcement of the funding decision on the 22nd. This program, through the CEF-Energy mechanism, provides financial support for PV power plants and associated transmission facilities involving multi-country interconnection, promoting the integration of the EU's internal electricity market. The goal of such cross-border projects is to alleviate regional power imbalances, enhance the cross-border dispatch capability of large-scale PV power generation, increase the proportion of renewable energy consumption within Europe's overall power grid, and lay the foundation for achieving the 2030 carbon neutrality goal.

US

1. Policy Title: Department of Energy (DOE) Clean Energy Funding Recovery PlanRelease Date: September 24, 2025 Key Points: The DOE Plans to Cancel or Reclaim Over $13 Billion in Unused Clean Energy Grants, Affecting PV and ESS Projects. Explanation: In September, the US Department of Energy (DOE) announced it would review and reclaim over $13 billion in unused or slow-moving clean energy funds. This decision involves projects such as PV, wind power, and ESS, meaning some enterprises or institutions originally relying on government funding will need to seek alternative financing channels. This move is seen as a signal of fiscal tightening, which may impact some investment plans in the PV industry in the short term. However, in the long run, it could help improve resource allocation efficiency and prevent funds from being tied up in inefficient projects. For the industry, this is a significant policy adjustment that may prompt developers to accelerate the execution of ongoing projects.

2. Policy Name: Treasury/IRS New Guidance on ITC "Safe Harbor" Release Date: September 2025 Key Points: Tightening the Criteria for Determining "Commence Construction" of Renewable Energy Projects, Affecting PV Projects' Eligibility for the Investment Tax Credit (ITC). Explanation: In September, multiple industry reports indicated that the US Department of the Treasury and the Internal Revenue Service issued new guidance on the "commence construction" conditions, directly impacting the eligibility of PV projects for the Investment Tax Credit (ITC). The new interpretation is stricter, requiring projects to meet higher standards in equipment procurement and construction initiation to lock in the credit. This will have practical implications for project financing, construction schedules, and equipment supply chain arrangements, particularly for PV power plants in early preparation stages, which may need to secure more physical work or contract terms in advance. Although the full official regulatory text has not yet been released, this development has already attracted widespread industry attention.

India

1. Policy Name: ALMM (Approved List of Models and Manufacturers) Revision Announcement (First Edition Revision) Release Date: September 23, 2025 Key Points: Updates the ALMM List for Solar Cells, Affecting Government Projects and Subsidy Eligibility, Strengthening Localization Requirements. Explanation: In September, India’s Ministry of New and Renewable Energy (MNRE) officially issued a revision to the ALMM (Approved List of Models and Manufacturers), adding and updating the list of approved manufacturers for solar cells. This list is a critical threshold determining whether PV products can participate in central government-led projects and access subsidies and policy support. The revision further enhances the market competitiveness of domestic manufacturers in India, restricting entry channels for some overseas suppliers. This policy aligns with India’s strategic goal in recent years of promoting local manufacturing and reducing import dependence, while also impacting the international supply landscape of the PV industry chain.

2. Policy Name: Solar Encapsulation Material Anti-Dumping Investigation and Import Monitoring System Plan (Media Reports)Release Date: September 2025 (Media Disclosure) Key Points: India initiated an anti-dumping investigation on certain encapsulation materials and is planning to establish a solar equipment import monitoring system. Description: According to Indian media reports, the Directorate General of Trade Remedies (DGTR) launched an anti-dumping investigation in September on solar encapsulation materials from China, South Korea, Vietnam, and Thailand, aiming to protect the local industry from low-priced imports. Meanwhile, the Indian government is planning to establish an import monitoring system to track and control equipment such as solar cells and modules. This will raise the compliance threshold for overseas producers entering the Indian market, potentially increasing import costs and driving more manufacturing segments toward localization. The measure is still at the media disclosure stage but has already generated expected impacts on the industry chain.

Southeast Asia

1. Policy Name: Vietnam Energy Planning, Direct Power Purchase (DPP), and ESS Incentive Policy Discussions Release Date: September 2025 (National-Level Discussion / Interpretation) Key Points: The Vietnamese government promotes the DPP policy framework and ESS incentives to optimize large-scale PV integration. Description: In September, the Vietnamese government and energy authorities held discussions on energy planning, focusing on establishing a Direct Power Purchase (DPP) mechanism and ESS incentives. DPP will allow large industrial users to purchase electricity directly from renewable energy power plants, reducing reliance on traditional grid dispatch while increasing the market-based integration ratio of PV power generation. The government also proposed encouraging the pairing of ESS with large-scale PV projects to improve the stability of the power system. These policy directions indicate that Vietnam is actively seeking a balance between new energy integration and grid security, though specific implementation rules are still under deliberation.