China Seeks Cheaper Solar in Shift to Efficiency from Growth

China’s efforts to cool solar power capacity growth will cut electricity generation costs and the industry’s reliance on government subsidies that helped drive record installations last year, the People’s Daily reported.

Electricity rates paid to solar developers haven’t fallen in line with photovoltaic panel costs and clean energy developers are owed more than 120 billion yuan ($18.7 billion) in subsidies, the paper reported, citing the National Energy Administration.

Solar projects qualifying for subsidies can get at least 30 percent more than rates earned through a pilot program that awards projects through ...