China Dials Back its Support to Clean Energy Projects as Targets Are Attained Sooner
Beijing will begin rolling back renewable energy project subsidies shortly after it achieved its 2030 renewables targets sooner than expected. The East Asian nation’s total installed capacity for solar has reached 887GW, a whopping 6 times larger than North America’s installed solar capacity, the International Renewable Energy Agency says. A recent Reuters report said the National Development and Reform Commission (NDRC) is partnering with China’s energy administration to begin rolling back subsidies meant to support the installation of domestic solar energy projects. The move comes a few months after China recorded a historic surge in solar energy installations that helped…