And, it’s all being driven by a virtuous cycle of falling renewable energy prices, an economic phenomenon where increased adoption and production lead to lower costs, which in turn encourages more adoption and production, creating a self-sustaining downward spiral of prices and upward surge in deployment. Earlier in the year, the South China Morning Post reported that the country is looking to modernize its renewable energy sector by leaving the prices of clean energy to the whims of the markets rather than being dictated by the government. China’s National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) have issued a notice about deepening the “market-oriented reform” wherein the price of on-grid electricity generated from renewable sources such as wind and solar, previously fixed, would be determined by market mechanisms.
Author: Alex Kimani
Published at: 2025-12-09 22:00:00
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