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Despite the fact that China led the world in clean energy investments last year, the Chinese government is now backing away from ambitious plans to plant megawatts of solar in the country.

Concerned by the high cost of solar -- which can be four times more expensive than fossil fuels -- and fears that solar power won't deliver on some of the anticipated goals, the Chinese government is not about to subsidize solar power on a national level, Shi Lishan, deputy director in China's energy bureau, said in an interview with Guangzhou's 21st Century earlier this month.

A couple of weeks ago, the state-run China Securities Journal carried a similar report, saying that the funds shortage blocks the central government from introducing a feed-in tariff. Already, the government's annual subsidy for solar PV projects has hit RMB 7 billion, or more than US$1 billion, according to Wang Sicheng from China's National Development and Reform Commission, as quoted in the report.

To read the full, original article click on this link: Is China Putting the Brakes on its Solar Program? : Greentech Media

Author: Coco Liu