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| Wed, 17th Jun 2020 17:02:00 |
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China entering post-FIT era with solid prospects |
The Chinese government is planning to phase out FITs and subsidies for all kinds of PV installation by the end of this year, according to the China Photovoltaic Industry Association. The trade body, however, expects strong recovery for domestic solar demand over the next five years, beginning in the second half of 2020.
The Chinese government is planning to eliminate all feed-in tariffs and subsidies for solar PV, even in the distributed generation segment, starting from 2021.
The announcement was given by Ru Jialin, Senior Researcher at the Public Affairs Department, of China Photovoltaic Industry Association (CPIA), during an online presentation held as part of the launch of SolarPower Europe's Global Market Outlook 2020-2024 report.
"The business models of solar-plus-storage applications continue to mature", the CPIA representative said. "The new subsidy-free era of solar energy will start in January 2021 and this year will be the last one with state subsidies." According to him, the market will prioritize grid-parity projects in the years to come.
According to a CPIA representative, China for this year has allocated RMB 1.5 billion ($211.8 million) for solar incentives, of which RMB 500 million is allocated for residential rooftop PV and RMB 1 billion is for bidding projects, including distributed PV and utility PV projects. Compared with 2019, the subsidy budget was slashed by 50% from RMB 3 billion.
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