China's Ministry of Finance Announces Subsidies for Wind, Solar

China's Ministry of Finance (MOF) has promulgated a set of rules that specifies the standards of subsidy for on-grid electricity generated by wind power and solar energy. According to the regulations on management of subsidy for renewable energy-generated electricity price released by the MOF, China will subsidize 0.01 yuan/kilowatt hour for on-grid electricity transmitted at a length within 50 kilometers, 0.02 yuan/kilowatt hour for a transmission length at 50-100 kilometers, and 0.03 yuan/kilowatt hour for a transmission length longer than 100 kilometers. For those public renewable energy power generating systems invested or subsidized by the State, China will offer a subsidy of 4,000 yuan/kilowatt each year.