China's Ministry of Finance makes solar subsidy official. It will subsidize 50% of the upfront costs for grid connected solar systems (the bulk of demand) and 70% for off-grid. They point to a 500 MW Floor for the next 2 or 3 yrs - and no cap is included. (Everybody has been waiting to see what the cap would be.)
For those who want the full Chinese version, here you go.
No kidding. Now I wonder which country built so much polysilicon capacity that spot prices have gone from $300 to $50 in short order? Looks like GCL will get their IPO done now..... yet more evidence that when it comes to bailouts, Obama ain't got nothing on Hu Jintao.
