China Announces New Solar Power Subsidies (UPDATED)
photo: Matthijs Koster via flickr
Details are a bit sketchy, but The Motley Fool is reporting that China is getting into the heavily subsidized solar power game. Skipping over the boost some solar stocks got because of the announcement, this what we know:China's Ministry of Finance has announced that solar power projects
under over 50 kilowatts in size would be receiving funds "to the tune of nearly $3 per watt"—an amount high enough to cover about 60% of installation costs.
There's no word on how the system will be administrated (is that a grant, a feed-in tariff which has been lost in translation?), will there be a cap on the number of systems eligible, how long with the program last; what provisions are there for monitoring, etc.
So, pretty much we don't know that much, other than China is trying to boost its installations of smaller-scale solar power systems. Which is a good thing.UPDATECleantech is reporting that while no upper limit to the subsidy has been given, analysts believe it could be capped around 180 MW. Furthermore,
The solar systems in China must also meet energy conversion efficiency guidelines: 16 percent for mono-crystalline based PV modules, 14 percent for multi-crystalline based PV modules, and 6 percent for amorphous silicon based PV modules.
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