China plans 92.3-billion-yuan renewable energy subsidy this year

On June 17, the official website of the Ministry of Finance released the central government’s budget in 2020.
It shows that in 2020, the budget for additional expenditure of renewable energy electricity is 92.355 billion yuan, an increase of 6.437 billion yuan or 7.5% over the amount last year.

On June 17, the official website of the Ministry of Finance released the central government’s budget in 2020.

It shows that in 2020, the budget for additional expenditure of renewable energy electricity is 92.355 billion yuan, an increase of 6.437 billion yuan or 7.5% over the amount last year.

Among them, the central-level government’s expenditure budget is 83.865 billion yuan, an increase of 7.8% from last year’s; the central government’s budget for local transfer payments is 8.49 billion yuan, an increase of 4.7% from last year’s execution.

This year’s budget for the supplementary revenue of renewable energy electricity is 88.352 billion yuan, an increase of 1.541 billion yuan, or 1.8% increase from last year’s budget.

According to the Ministry of Finance, this budget is mainly based on the estimated growth of power consumption of the society.

The Ministry of Finance has also clarified the expenditure arrangement for the additional income of renewable energy electricity prices. The budget subsidies for wind power, solar power and biomass power generation are 35.685 billion yuan, 42.839 billion yuan and 5.341 billion yuan respectively.

Among them, the subsidy budget for wind power generation was 96.8% of the previous year’s, and the solar and biomass power generation subsidy budgets were both increased compared with 2019, respectively, 114.3% and 153.2%.

The Ministry of Finance said that in accordance with the prescribed standards, subsidies will be given to enterprises and individuals that use renewable energy to generate electricity to support the development of the renewable energy industry.

http://yss.mof.gov.cn/2020zyys/

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/25/china-plans-92-3-billion-yuan-renewable-energy-subsidy-this-year/.

Leave a Reply

Please Login to Comment