Green Economy Incentives: CHINA

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1 1. Financial Incentives 1.1. Capital Subsidy / Grant / Rebate Description Value Year Reference Wind Subsidy for 2.25 Billion Global Status Report (GSR). renewable energy. Wind Subsidy for wind 1.47 Billion Global Status Report (GSR). power. Solid Subsidy for biomass 0.50 Billion Global Status Report (GSR). Biomass products. Solar PV Subsidy for solar 0.38 Billion Global Status Report (GSR). PV Energy Production Payment Description Energy production payments exist. Value Year Reference Global Status Report (GSR) Public Investment / Loans Description Value Year Reference Electricity Power surcharge used to subsidise renewable energy Yuan/kWh (<.01 ) Bloomberg New Energy Finance. "Week In Review, vol. VI, issue 199," 3 September. Subsidy for power China.org. "China set to subsidize 1.4 Billion generated from 2012 renewable energy" renewables. Public investment in RE sector. Electricity Wind Public investment in wind power , Number 2," July. 2, Number 2," July.

2 Description Value Year Reference Electricity Solar PV Targeted investment in solar power Electricity Solid Biomass Targeted investment in solar water heater and surface geothermal energy Targeted investment in biomass Electricity Wind Targeted investment in wind power Electricity Hydropower Targeted investment in pumped storage hydropower Electricity Hydropower Targeted investment in small hydropower Electricity Hydropower Targeted investment in medium and large hydropower. Electricity Rural Energy Targeted total investment in renewable energy. Targeted investment in rural electrification. Public investment in RE sector. Public investment in RE market. Electricity Biogas Public investment in biogas. Rural Biogas Public investment in Energy biogas Million 51 Billion 1,857 Billion EUR Global Status Report (GSR). Forbes. "China leads the world in renewable energy investment." Chinese Government s Official Web Portal. "Work report of NPC Standing Committee" International Energy Agency (IEA). "Policies and Measures Databases" International Energy Agency (IEA). "Policies and Measures Databases" 1.4. Renewable Accelerated Depreciation None

3 1.5. Tax Incentives Description Value Year Reference Solar Corporate Income Tax (CIT) 15% Wind Corporate Income Tax (CIT) 15% Biomaterial Corporate Income Tax (CIT) 15% Geothermal Corporate Income Tax (CIT) 15% 3 years CIT exemption followed by a 50% reduction for another 3 years for qualified Clean Development Mechanism (CDM) Fund projects. 3 years CIT exemption followed by a 50% reduction for another 3 years for qualified environmental protection and energy or water conservation projects. Tax credited against CIT payable for the current year, with any unutilized investment credit eligible to be carried forward for five tax years for investment in qualified special equipment related to environmental protection, energy, or water conservation and production safety. Electricity Wind Refund of VAT paid on the sale of wind power. Biodiesel Refund of VAT on the sale of biodiesel oil generated by the utilization of abandoned-animal fat and vegetable oil. Transport Vehicle and Vessel Tax deduction for qualified energy efficient vehicles and vessels. 10% 50% 100% 50% 2012

4 2. Regulatory Incentives 2.1. Feed-In Tariff Description Value Year Reference Electricity Solar PV FIT for solar PV. 1.2 Yuan/kWh Wuxi Jiangsu Government. (0.19 ) Electricity Solar PV FIT for distributed 0.9 Yuan/kWh solar PV for "China Renewable Energy: (0.15 ) resource class I. Volume 2, Number 2," July. Electricity Solar PV FIT for distributed solar PV for resource class II. Electricity Solar PV FIT for distributed solar PV for resource class III. Electricity Wind FITs for wind power Net Metering None 2.3. Obligations and Mandates 0.95 Yuan/kWh (0.19 ) 1.0 Yuan/kWh (0.15 ) Yuan/kWh ( ) Description Biofuels and Heat obligations exist Value Year 2012 Reference Global Status Report (GSR) "China Renewable Energy: Volume 2, Number 2," July. "China Renewable Energy: Volume 2, Number 2," July. World Environment News. "China pushes wind power, but no quick payoff for producers. Transport Biofuels Description Ethanol mandate for transport. Value 10% Year 2010 Reference International Energy Agency (IEA). " roadmap - Biofuels for transport" 2.4. Public Competitive Bidding Electricity Wind Description Bid-invitation price for wind turbine generators. Value 4,000 Yuan (660 ) Year Reference Renewable Energy World. "China s Wind Power Foresees a Recovery in 2014" Electricity Wind Description Bid-invitation price for wind turbine generators. Value 3,600 Yuan (600 ) Year 2011 Reference Renewable Energy World. "China s Wind Power Foresees a Recovery in 2014"

5 2.5. Renewable Energy Targets Description Value Year Reference Targeted share of National University of Singapore, renewables in total Energy Studies Institute. "China s primary energy Renewable Energy Subsidy and Its supply. Impact Analysis," 22 February Electricity Wind Targeted share of electricity generated from wind. Electricity CSP CSP Biogas Electricity Hydropower hydropower Electricity Solar PV Targeted construction of distributed solar PV plants. Solar heating / cooling GW 2020 biogas 2 GW 2020 Targeted construction of distributed solar thermal plants. 420 GW GW GW 2020 Electricity Solar PV Targeted construction of distributed solar PV plants. 27 GW 2020 Electricity Solar PV solar generation 50 GW 2020 Electricity Solid Biomass biomass 30 GW 2020 installed solar PV products. 4,000 MW 2020 installed large-scale 40 GW 2020 solar PV. installed distributed 56 GW 2020 solar PV. installed solar PV. 100 GW 2020 Electricity Wind Targeted total installed renewables capacity for electricity generation. 1,313 GW 2020 International Energy Agency (IEA) & OECD. Roadmap - China Wind Energy Development Roadmap 2050" Renewable Energy World. "China s Solar Dragon Year 2012" Wenku Baidu. 2, Number 1," February. 2, Number 1," February. 2, Number 2," July. 2, Number 2," July. 2, Number 2," July. 2, Number 2," July. PricewaterhouseCoopers. "Renewable Energy Brazil," April.

6 Description Value Year Reference Electricity Wind Targeted total installed wind power 99 GW 2020 PricewaterhouseCoopers. "Renewable Energy Brazil," April. Electricity Wind Targeted total installed wind power Solar heating/cooli ng Geothermal Geothermal Biogas Targeted share of renewables in final energy consumption. Targeted renewable energy consumption. Transport Solid Biomass Targeted solid biomass fuel Transport Biofuels bioethanol fuel Transport Biofuels biodiesel fuel Transport Biofuels Targeted total annual production of biofuels. 200 GW Million tons oil equivalent 400 million sq. M 580 million sq. M 1.2 million units 22 Billion sq. M 42.4 Million tons oil equivalent 10 Million Tonnes 4 Million Tonnes 1 Million Tonnes 7 Million tons oil equivalent Reuters. "Global wind capacity up 12.4 percent in : industry data," 5 February 2014 Asia Europe Clean Energy (Solar) Advisor Co. Ltd. "March 2014 Briefing Paper - China Solar PV Development," March 2014

7 2.6. Tradable Renewable Energy Certificate None 2.7. Utility Quota Obligation Electricity Description Utility quota obligation. Value 15% Year 2012 Reference World Environment News. "China pushes wind power, but no quick payoff for producers.