The prices will still be subsidized by the National Renewable Energy Development Fund but the ceiling will fall in 2020 when projects are required to reach "grid-price parity" and compete equally with the cost of coal power in their region.
The NDRC notice also introduced a new guidance price for newly approved offshore wind power projects.
(Source: NDRC, Caixin, 27 May, 2019)Contact: China National Development and Reform Commission, en.ndrc.gov.cn
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Under the current 20-year old law, electricity-generating companies earn credits of a fraction of a cent per kilowatt-hour of electricity generated with renewable technologies including wind, hydropower, solar, and geothermal energy sources.
The 10 year phase-out of the tax credit began on July 1, 2017. No projects brought on line after that date are eligible for the credit.
(Source: Heartland Institute, PR, 2 July, 2018)
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