China Allocates $2 Billion of Solar Subsidies, Xinhua Says
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China allocated a total of 13 billion yuan ($2 billion) this year from central government funds for domestic solar installations, Xinhua News Agency reported.
The funds will be spent on solar power demonstration projects with 5.2 gigawatts of capacity, Xinhua said, citing an unidentified official from the Ministry of Finance. China will provide an incentive of 5.5 yuan a watt for projects whose developers will consume the power for their own use.