China still most attractive renewables market despite subsidy cuts: EY

LONDON - China is the most attractive market for investment in renewable energy for the fourth year in a row and growth there is set to continue despite the country’s efforts to trim subsidies, a report by UK accountancy firm Ernst & Young showed on Wednesday.

Last year, cuts to China’s expensive feed-in tariff regime slowed growth in solar installations. Solar photovoltaic capacity additions fell to 44.3 gigawatts from a record 53 GW in 2017. “China’s renewable energy market is undergoing a transition as the government seeks to rein in the costs of the subsidies paid to the sector,” EY said.

“FILE PHOTO: Workers inspect solarpanels at a photovoltaic powerstation on a hill in Linyi, Shandong province, China 🇨🇳 August 11, 2018”

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