In a move meant to shore up an industry beset with oversupply concerns and unsteady demand, the Chinese government announced plans last week to help support its solar power manufacturing sector with a system of tax breaks.
In August 2013, China’s National Development and Reform Commission introduced subsidies for solar power plants.
China’s top 10 makers of solar panels are about $16.34 billion in debt, according to reports. Chinese state news outlet Xinhua has called the photovoltaic industry “bloated.”
Analysts say government support for the industry remains strong because solar power is a major employer in China.