China government cuts 2012 Golden Sun Demonstration Project subsidy to CNY5.50/W Nuying Huang,Taipei;Jackie Chang,DIGITIMES[Monday 7 May 2012]The Ministry of Finance and Ministry of Science and Technology under the China government have announced the content of the 2012 Golden Sun Demonstration Project.The departments finalized a subsidy for the 1.7GW project reducing it from CNY8-9/W(US$1.27-1.43/W)in 2011 to CNY5.5/W for 2012 due to a rapid decrease in system installation costs.The subsidy cut in 2012 is close to 30-40%compared to incentives in 2011.
The Golden Sun Demonstration Project began in 2009 and during phase-one,there were 329 projects with total installations of 642MW.Phase-two began in 2010 with 272MW of projects.In 2011,phase-three,total projects increased to 600MW.If total installations in 2012 reach 1.7GW,this means the installations grew by 200%on year.
Rapid decrease of installation costs induce China government to cut solar subsidiesPhoto:Digitimes file photo
