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In 2006, the law “On Renewable Energy Sources” came into force in China, which legalized the development of renewable energy sources in the country and streamlined relations between the state, energy producers and owners of electricity networks. From that moment, renewable energy began to appear in China’s development plans, and after the plans, the first large projects.

 

Since 2010, China, with the help of government subsidies, began to actively develop the industry for the creation of equipment in the field of renewable energy. Already 11 years later, in June 2021, China decided to cancel subsidies for new industrial solar and ground wind power plants: the industry has matured, technologies have become cheaper, investments in the renewable energy sector have begun to pay off even without state support.

 

China is a leader in the production of wind power equipment and photovoltaic cells, and Chinese business largely shapes the global renewable energy market. Thus, about 75% of the solar panel market is controlled by Chinese companies, and 6 of the 10 largest global manufacturers of wind energy equipment are Chinese.

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