Executives from 11 Chinese solar panel manufacturing companies have sent a letter to the state-run Xinhua News Agency demanding that the government delay its plans to cut back on the number of new solar power projects and cut subsidies to the solar industry, the South China Morning Post reports.
The letter claims that Chinese solar companies have amassed large debts in a bid to compete with traditional power generators and therefore need up to five years more government support.
On June 1, China’s National Development and Reform Commission announced that it will install just 30 gigawatts of new solar capacity this year, down from 53 GW in 2017, in a bid to “optimize” the sector. This is likely a reference to the fact that much renewable energy capacity in China often lies idle, because it is built up rapidly in areas where demand for power is relatively low and the grid infrastructure is unable to transfer the power to areas with higher demand.
The NDRC’s proposals would also cancel any new solar plants that require subsidies.
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