Aggressive subsidy, but the total goal is surprisingly small. Half of one coal plant's worth of electricity? And not even, when you factor in the lower capacity factor.
BEIJING, July 21 (Reuters) - China has launched an unprecedented plan to offer hefty subsidies to independent solar power projects, a move that sparked a rally in the sector on Tuesday.
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The Ministry of Finance said the government will subsidize 50 percent of investment for solar power projects as well as relevant power transmission and distribution systems that connect to grid networks.
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Grid companies are required to buy all surplus electricity output from solar power projects that generate primarily for the developers' own needs, at similar rates to benchmark on-grid tariffs set for coal-fired power generators.
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The government plans to install more than 500 megawatts of solar power pilot projects in two to three years. But the total generating capacity in such pilot projects in each province in principle should not exceed 20 megawatts, the ministry said.
http://www.reuters.com/article/marketsNews/idUSPEK12570920090721?rpc=401&
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