China’s Wind and Solar Developers Hit by Subsidies Short of Plan
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China’s wind and solar developers are getting much less than they anticipated in handouts from the government because of a quirk in subsidy policies, threatening to stymie growth in the world’s biggest market for clean energy.
The issue relates to the support China pays power suppliers as enticement to develop clean energy projects. Surcharges slapped onto electricity bills to fund the subsidies are too low, leaving a gap between what was promised and what’s being paid out, said Meng Xiangan, vice chairman of the China Renewable Energy Society, an industry group.