Subsidies for Renewables 2020- Several Remarks on Promoting the Healthy Development of Non-water Renewable Energy GenerationNotice on Accelerating the Work Related to the Review of the List of Subsidized Renewable Energy Generation Projects
The Chinese Ministry of Finance (MoF) issued the national budget for 2020, setting the expected renewables subsidies budget at CNY 92.36 billion (USD 13.04 billion).
This represents an increase of CNY 6.44 billion (USD 910 million), or 7.5% year-on-year. The budget is financed through the renewable surcharges of power prices, and will be used to pay renewable energy investors for the electricity generated.
In another document issued by the MoF, National Development and Reform Commission and National Energy Administration in 2020, "Several Remarks on Promoting the Healthy Development of Non-water Renewable Energy Generation", states that from 2020 onwards, new added offshore wind and solar thermal projects will no longer be included in the scope of central financial subsidies and will be supported by local authorities in accordance with the actual situation. This document explains that the amount of new subsidy funds is expected to be RMB 5 billion in 2020, which can be used to support new wind power, photovoltaic power and biomass power projects.
In "Notice on Accelerating the Work Related to the Review of the List of Subsidized Renewable Energy Generation Projects" published by the MoF, it was clarified that the central government will no longer issue a catalogue of additional subsidies for renewable energy tariffs, instead grid companies will determine and regularly publish a list of eligible subsidised renewable energy generation projects.
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