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As China begins to shift its focus from PV manufacturing to PV applications and promote distributed systems, the need for solar financing has gradually increased. Recently, a new PV solar financing alliance was officially launched in Beijing by more than ten Chinese institutions, including China Minsheng Investment, GCL, and China Electric Power Research Institute, expecting to bring out a more complete solar financing structure in China.
Under the call of Chinese Renewable Energy Industries Association (CREIA) and with support from Energy Foundation, the China PV Power Investment and Financing Alliance (the Alliance) was created to facilitate industry self-regulation, standardize and develop investment and financing market, and to promote communication and cooperation between PV power industry and financial sector in a deeper level. According to CREIA, there are many problems within the existing solar financing structures, including low transparency, inadequate coordination and rating tools, unknown risks of billing and payment, low profits and high financing costs, and low degree of standardization. After the Alliance charter was completed, Beijing held an inaugural meeting on April 2nd, formally announcing the establishment of the Alliance.
In the inaugural meeting, Chairman of the Asian Photovoltaic Industry Association Federation, Zhu Gong Shan, indicated that the Alliance will encourage healthy development in the Chinese PV industry and can execute the national energy strategies further. Below are the five recommendations suggests by Zhu for future works in the Alliance:
1. Always come up with suggestions to improve PV industry and solve issues related to distributed systems and power plants;
2. Advance PV technology and industry upgrade, accelerate high-efficiency technology development and application;
3. Strengthen the cooperation between PV industry and financial sectors, increase financing instruments and lower financing cost, integrate internet banking, financial leasing, insurance with PV industry;
4. Emphasize on the Alliance’s specialty, authoritativeness, and openness;
5. Have leading companies take more Chinese PV manufacturers to the world.
Photo Source: CREIA