China will not approve wind and solar power projects unless they can compete with coal power prices. China stopped subsidizing large scale solar projects in May, 2018. This was reported by John Parnell at Forbes.
China’s leaders did not like Chinese companies building overseas solar projects overseas at prices far below what they were charging within China.
In 2017, 12% of wind generation and 6% of solar wasted because the power grid could not use the generated power
New solar and wind renewable power projects will have to show that the grid can handle their output and that the price will be lower than coal. Local governments have been told they are free to offer their own subsidies to projects if they wish.
China had provided subsidies of $15.6 billion in 2017 and was on track to subsidize renewables for $39 billion in 2020. However, the new requirements mean that solar and wind will have installations without non-local subsidies in China.
Solar and wind installations are still expected but at a slower rate of growth. The overall price of solar panels will likely increase over the next two years because of consolidation in the industry. Smaller companies will be killed or bought by larger companies.
Over half of the solar and wind will be installed in China, India and the USA.
Brian Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of
nextbigfuture.com, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.
