Beijing Reportedly Ending Renewable Energy Support (Int'l Report)
China Renewable Energy
Shanghai Securities News is reporting Beijing is considering scaling back or even abolishing subsidies to the offshore wind power sector in 2022. Beijing would, however, still encourage regional-level governments to subsidize construction of local offshore wind farms. In 2019, the central government cancelled subsidies for the solar power industry.
The cut backs are being viewed as a sign of the government's intention to completely eliminate financial support to renewable energy firms as their technology becomes more commercially competitive.
(Source: Shanghai Securities News, CX Tech, 9 Jan., 2020)
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