China’s solar energy manufacturers to benefit from tax breaks

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.

China‘s Ministry of Finance wrote on its website that solar power product makers will receive immediate refunds of 50 percent of value-added taxes, according to reports.

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.

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  • The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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