IEEE Power & Energy Magazine - May/June 2020 - 55

PV grid price typically falls as PV product costs decline,
with the former decrease sometimes occurring at a later
time. This is primarily attributed to policies that have not
been implemented as planned, thus severely affecting the
economy and benefits of a project. The price of electricity generated from coal has remained low, preventing or
delaying PV grid parity.

PV Electricity Prices in China
In 2013, when the national PV subsidy policy was new, the feedin tariff was US$0.1308/kWh; in 2017, it was US$0.0944/kWh,

a five-year decrease of approximately one-third. In addition to national subsidies, the PV industry can also receive
explicit ones, such as local aid, project support, and enterprise
assistance, as well as implicit ones to help fund early stage
market d- evelopment. Solar technology development reduces
PV costs, accelerating marketization and contributing to the
decline in subsidies. The government has introduced stopgap
measures until the subsidies are phased out, which is inevitable and the final stage in the industry's maturity. As of 2019,
the cost-recovery period for PV systems in China was seven
to eight years.

Benchmark Electricity Prices (US$/kWh)

0.16
0.14 US$0.1453
US$0.1380
0.12

US$0.1308

US$0.1424
US$0.1278
US$0.1162

0.1

US$0.1235
US$0.1090
US$0.0944

0.08
0.06

Resource Region 1
Resource Region 2
Resource Region 3
Distributed Subsidy

US$0.1090
US$0.0944
US$0.0799

US$0.1017
US$0.0872
US$0.0726

US$0.061

US$0.061

US$0.061

US$0.0538

0.04

US$0.0465

0.02
0

2013-2015

2016

2017

2018

2018.6

Resource Region 1
Resource Region 2
Resource Region 3
Other Resource Region

figure 4. China's PV benchmark electricity prices.
may/june 2020	

ieee power & energy magazine 	

55



IEEE Power & Energy Magazine - May/June 2020

Table of Contents for the Digital Edition of IEEE Power & Energy Magazine - May/June 2020

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