China grants 3.08 billion yuan in subsidies for solar PV projects

SHANGHAI, Jun 19 (SMM) – China granted subsidies of 8.1 billion yuan for renewable energy projects in 2019, with subsidies for photovoltaics (PV) projects accounting for 3.08 billion yuan, according to a statement released by the Ministry of Finance on May 24. 

Provinces and autonomous regions of Inner Mongolia, Jilin, Zhejiang, Guangxi, Sichuan, Chongqing, Yunnan, Shaanxi, Gansu, Xinjiang, and Qinghai received the subsidies. 

Among the subsidies for solar projects, nearly 3 billion yuan was allocated to support power stations and industrial, commercial distributed solar PV projects. 

Solar projects built under the program to alleviate poverty in rural areas enjoyed a subsidy of 37.18 million yuan. 

China has been scaling back subsidies for the renewables sector due to lower costs of equipment and construction, as well as a subsidy payment backlog for existing projects.