By Renewable Energy Focus Staff
China has set its first unified benchmark grid feed-in power tariffs for solar projects, China Daily reports.
The rates start at 1 yuan (£0.10) per kilowatt hour (kWh) for projects approved after 1 July. The price solar power developers sell to grid operators for projects approved before July 1 and completed by the end of this year will be 1.15 yuan(£0.11)/kWh, China's National Development and Reform Commission (NDRC) has said.
According to China Daily, the rates are higher than many of those proposed and accepted by State-owned solar power developers in China's second official tender last year.
For projects approved before 1 July that will not be completed by end of the year, the on-grid price will be 1 yuan/kWh, the Commission said. But projects in Tibet will continue to receive 1.15 yuan/kWh, regardless of when they were approved or built.
The Commission said it would adjust the tariff levels in a timely manner later in accordance with changes in investment costs and technology improvement, China Daily reports. For projects approved through open tender, the on-grid power prices will be those proposed and accepted by bid winners, although these should not exceed benchmark rates.