China aiming to remove subsidies from its booming solar market

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China aiming to remove subsidies from its booming solar market

The FT reports on Chinese moves to remove subsidies from its booming solar market; whilst the usual lobbyists for the solar industry will wail and gnash their teeth, we see this as great news; solar is making commercial sense without subsidy and the Chinese authorities have long realised that solar energy will help them wean themselves off dependency on imported oil and help clean up their air.

China accounted for almost two thirds of all solar deployment last year and any reduction in demand as a result of reduced subsidies will make life hard for the panel producers for a while but the longer term picture is rosy; not only is solar electricity cheaper and quicker to deploy than any other form of new generation, it also requires no financial assistance from the state.

Read the FT story here.

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