The reduction in tariffs paid to solar farms will amount to 19% next year, compared to the current levels, and to 15% for wind farms in 2018 compared to the present-day prices.
Thus, the subsidies paid to new photovoltaic and wind power projects are expected to be cut by approximately 6 billion yuan ($863 million) per year.
At present, average solar panel prices have dropped by 30% in 2016, what led to a decrease in the bids on the part of solar developers.