China's National Development and Reform Commission (NDRC) has set new solar feed-in-tariff (FIT) prices for projects developed in the country.
According to a Bloomberg report, solar developers will receive 1.15 yuan ($0.18)/kWh from grid operators. The NDRC requires that projects be approved by July 1 or be completed by the end of the year in order to receive this rate; others will receive 1 yuan/kWh.
Earlier FIT rates in China had been much lower, ranging from 0.73 yuan/kWh to 0.99 yuan/kWh, Luo Lu, an analyst at Bloomberg New Energy Finance, said in the report.
