China Cuts Subsidies for Solar Projects on Declining Costs
BLOOMBERG - China, the world’s biggest producer of solar panels, cut subsidies for demonstration sun-power projects approved in 2011 and this year after the cost of components declined.
The government reduced the subsidy for projects approved last year by 11 percent to 8 yuan ($1.3) a watt, the Ministry of Finance said in a statement yesterday. It will offer a subsidy of 7 yuan a watt for those that are eligible for the assistance this year.
