China to roll back clean power subsidies after boom

China’s National Development and Reform Commission announced plans to reduce subsidies for renewable energy projects due to a surge in solar and wind power installations, surpassing its 2030 solar target six years early. With almost 887 GW of solar power capacity, China leads the world, while also achieving over 40% of clean energy capacity in its energy generation mix. The new policy aims to introduce market-based pricing for new energy projects since the cost of development has significantly decreased, potentially impacting China’s solar industry by adding pressure on smaller producers.

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