A worker installing solar panels in Songxi, China, in 2016. (Feature China/Barcroft Images/Barcroft Media via Getty Images)
A worker installing solar panels in Songxi, China, in 2016 Feature China/Barcroft Images/Barcroft Media via Getty Images

The Chinese government has suspended the construction of new solar farms and cut subsidies in a “surprising” move to rein in the expansion of the solar industry.

According to a notice published by the National Development and Reform Commission, the Ministry of Finance and the National Energy Administration, there will be no target for the construction of utility-scale PV power plants in 2018 and regional authorities should suspend arrangements for plants that require any state subsidies.

Since then, shares in Sungrow Power, the country’s biggest maker of inverters for solar and wind power, tumbled by 10 percent, while GCL-Poly, the world’s largest producer of solar wafers used to make solar panels, slumped 9.2 percent.

The measures are aimed at “promoting the solar energy sector’s sustainable development, enhancing its development quality and speeding up the reduction of subsidies”, the Chinese government said in a statement.

Editorial Team
The Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with data and insights to deliver useful news updates. We are experts with the mission to inform, educate and inspire the industry. We are passionately curious, enthusiastic, and motivated to positively impact the world. Send us a tip via hello @ pvbuzz [dot] com.

Trump has ordered his Energy Department to help unprofitable coal, nuclear power plants

Previous article

New global renewable power record set in 2017, but emissions are still rising

Next article

You may also like


Comments are closed.

More in News