State Council Wind Power Generation Subsidy

What will the UK's offshore wind subsidies mean for the UK?

The subsidies will underpin 11GW of power, which is equivalent to the total capacity of all the UK’s offshore wind operating today, if all the projects listed are built. Ørsted, Vattenfall, and Scottish Power were among the winners of the offshore wind subsidy contracts, which extend for 15 years from the time the project is delivered.

Why is there a subsidy gap for onshore wind & solar power projects?

Subsidies for onshore wind and solar power projects date back to 2009, when subsidy incentives drove rapid development of the country's new energy installed capacity. However, the generous subsidies previously allocated over the past few years weighed on central government finances and led to an increasing subsidy gap.

How did government subsidies affect wind & solar?

"Beginning with the turn of the decade, government subsidies resulted in significant cost reductions for wind and solar plays, and we estimate generating costs for those technologies declined by 60 percent and 80 percent, respectively, since 2014 in China," Luan said.

Will £200 million support offshore wind power 8 million homes?

The additional offshore wind capacity resulting from the funding alone could power around 8 million homes. Today’s announcement contains £200 million to support offshore wind projects. This will help meet the manifesto commitment to ensure the UK has 40GW of capacity by 2030.

Will wind and solar power enter the subsidy-free era?

Qian Jing, vice-president of module maker JinkoSolar, said the policies mark the era wherein wind and solar power finally enter the subsidy-free age. The policies could ensure that newly built wind power and photovoltaic projects can achieve reasonable profits, while directing investment in an efficient way, Qian said.

Will China remove subsidies for photovoltaic projects in 2021?

China will remove subsidies for new centralized photovoltaic stations, distributed photovoltaic projects and onshore wind power projects from the central government budget in 2021 and work toward grid parity, the National Development and Reform Commission announced in mid-June.