China Approves Subsidies For Rooftop Solar Projects
According to China Daily, the Ministry of Housing and Urban-Rural Development of the Chinese government has renewed subsidies for rooftop solar panel installations.
Bloomberg.com writes: “Subsidies will range from 7.5 yuan ($1.2) to 9 yuan per watt, totaling 1.82 billion yuan for a batch of 126 approved projects.”
As opposed to China’s production-side subsidies for solar panel companies, which have been successfully contested as breaking world trade agreements, these government subsidies for solar installations are simply meant to encourage Chinese citizens and companies interested in solar systems to go ahead and buy them — by promising them the ability to pay a lower price for them.
China’s solar industry has been growing, and the country has been developing overall. The large and growing population needs more electricity than ever, and the use of abundant and inexhaustible sources of energy is a good way to meet growing electricity demand in the long run.
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