Renewable energies: China cuts subsidies

Last year, China reached a record expansion of solar and wind power plants. China has now cut subsidies after reaching its 2030 climate target six years earlier than planned.

China’s highest economic planning authority plans to cut renewable energy subsidies. The National Development and Reform Commission (NDRC) said on Sunday that it had made „market-oriented“ policy changes in conjunction with the China Energy Administration to promote clean energy projects. „The cost of new energy development has dropped significantly compared to earlier stages,“ the NDRC said in a statement.

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