By Irina Slav - Jun 11, 2021, 11:00 AM CDT
China will stop subsidizing new solar farm projects, distributed solar projects for commercial users, and onshore wind farms as soon as this year, Reuters reported, citing the central planning authority of the country.

The change will enter into effect on August 1 and is a departure from the course set late last year. The country’s finance ministry had previously committed to granting 57 percent more subsidies to solar power projects this year, although it did slash subsidies for wind power.