Photovoltaic Industry “new worry”

Polaris solar PV net news: in July this year, will face China or United States first solar “double reverse” review zhongcai. Identify high and low tax rates will determine PV product sales in the United States, China and even the global PV market.

China also holds a “brand”. Last August, the Ministry of Commerce and the General Administration of customs jointly issued “Bulletin 58th” plugging in processing trade to avoid “double reverse” behavior.

Trade between China and America at the same time, the domestic photovoltaic industry battles because of the intertwined interests: or would benefit from blocking upstream firms called for the continuation of the policy of blocking, downstream that depend on processing trade enterprises are urged to let go.

As a representative of China’s new energy, photovoltaic industry despite the momentum of rapid development in recent years, overseas are subject to “double reverse” dispute, and also lose subsidies cane, financing, Internet hard to solve old problems are still rare.

First, “Bulletin 58th” abolition of suspense

The end of April, the Ministry of Commerce in a conference room on the 3rd floor, in front of the host Ministry of Commerce’s foreign trade Secretary, Zhang JI, PV upstream and downstream firms on behalf of tit-for-tat, not “charged”.

Upstream firms requires, continue to the 2014 “Bulletin 58th” plugging polysilicon processing trade imports, protect the legitimate rights and interests of China’s polysilicon industry.

Enterprise was again let go of polysilicon processing trade imports, citing excessive protection will hinder the progress of the domestic industry and international competition.

On August 14, 2014, China’s Ministry of Commerce and the General Administration of customs jointly issued a moratorium on the import business applications of solar-grade polysilicon processing trade bulletin, the “Bulletin 58th” closed the imports entertained the gate since September 1, 2014. This bulletin is intended to plug in processing trade to avoid “double reverse” behavior.

Domestic PV manufacturers divided on this great benefit from the blocking of upstream and downstream that depend on processing trade gezhiyiduan.

More complex is involved in Sino-US trade.

Bulletin 58th continues or not is directly related to United States Silicon exports to China. An important point in time is coming. 2011 United States exports to China Solar PV products launched the first round of “double reverse” investigation, in July of this year is expected to be made in the case review zhongcai. In this case, bulletin 58th fate became a mystery.

Two years, troughs, warming of PV industry in China from the end of 2013. The same period, the United States PV market growing rapidly, but due to an United States two “double reverse” sanctions, China PV products in the United States market was affected. If the Review Conference will “double” rate, undoubtedly bullish China PV industry.

Peng Hongbing, Deputy Director of the information Division at the Ministry told reporters that not long ago, China had a “China-us strategic and economic dialogue” early contacts. On the trade issue, China expressed the hope that the two sides are using trade remedy measures, with the implication that suggested both take a step back.

“58th polysilicon processing trade notice was suspended, the Government can cancel the notice, let go again. “The Ministry of Commerce, Director of the Institute of foreign trade Li told reporters.

However, according to press reports, the United States in the early bulletin contact sought abolition of the 58th, but did not mention the possibility of concessions or Exchange. If the United States does not take a step back, China is likely to “maintain the consistency of our policies.”

“Double reverse” vulnerability

In 2011, the United States first PV to China launched “double reverse”. In 2012, followed by the European Union, and 21 billion euros of photovoltaic products and raw materials trade cases against China, becoming the biggest anti-dumping cases.

As a counter measure, on January 20, 2014 and on May 1, China respectively from the United States, and Korea and the EU imported solar grade polysilicon trade remedy measures.

Bloomberg new energy finance industry analyst Wang Xiaoting, China’s “double reverse” limited effect.

Customs data show in 2014, total imports reached a record 102,000 tons of polycrystalline silicon, rose 27%. In 2015, imports continue to grow, and 1 ~ April cumulative import 38,000 tons, an increase of 29.4%.

Meanwhile, China polysilicon spot prices from May 2014 price 165,000 yuan/ton, has shown a decrease in unilateral posture by May 2015 fell to 116,000 yuan/ton, fell by nearly 30%.

Silicon industry branch of China non-ferrous metals Association analyst Liu explained to reporters, China’s “double reverse” after the polysilicon abroad by processing trade imports as a way to circumvent sanctions, punitive tariffs have not been implemented. The other hand, the 58th bulletin from release to perform a half month break, stimulates the polysilicon spot imports, prices fell sharply.

Since reform and opening up, China has been bonded imports and exports imposed on processing trade cancellation policies, shall be exempt from customs duties and VAT on imported raw materials. China accounted for 77% of the global market share, any polysilicon manufacturers won’t give up the “battleground” and will not give up any “loopholes”.

Li Jian said, avoiding trade remedy measures for processing trade “loophole” is legitimate in principle.

In order to fill gaps in August 2014, the Ministry of Commerce and the General Administration of customs jointly issued bulletin 58th, polysilicon processing trade imports were suspended. But in a public notice issued to date half of the break period, around the surprise release totaled more than 100,000 tons of polycrystalline silicon processing trade orders.

Li Jian, 58th, notice was left empty, should be the result of the game from all interests.

In 2014, the polysilicon processing trade in the United States, and Korea, and Germany respectively for imports of polycrystalline silicon 87.6%, 69.1% and 59.1%. Polysilicon through processing trade imports to China set a record high, an increase of 35.8%.

Liu said that during the break period, imported polysilicon spot prices lower than the domestic products of the same grade 0.5-10,000 yuan/ton, the domestic polysilicon companies have to cut prices to, resulting in decreased competitiveness, face a crisis of survival.

Domestic polysilicon production the third Sino-Si no acrylic described to reporters, Deputy General Manager, Luoyang Zhonggui cash cost of 120,000 yuan/ton, compared with the current market price is 116,000 yuan/ton, the cash flow has been negative. Meanwhile, normal inventory of polysilicon in a week or so, Luoyang Zhonggui currently inventory has been close to two months, enterprises can support a maximum a year or face the risk of shutting down.

According to several insiders, bulletin 58th break contracts signed during the period up to the implementation period of only one year, will be fully implemented before the end of August 2015, domestic PV upstream and downstream enterprises to related government departments began a new round of “lobbying”.

Downstream on contradiction

On April 30, the Xian longi silicon materials company limited (hereinafter referred to as longi shares) to the Ministry of Commerce reported on sustainable development urge protection of polysilicon processing trade, promote transformation and upgrading of our PV leads report, objection to restrict polysilicon processing trade imports.

The reason is, the domestic polysilicon production cannot meet the demand of domestic enterprises and quality of domestic polysilicon and the quality of large international companies there are gaps, especially at present, used in the production of n-type Silicon Silicon material quality is not stable and must be imported. More important is that the domestic polysilicon companies have higher gross margins, imports will further bring domestic companies raise prices, even for 1 ~ 2 monopoly enterprises, and domestic enterprises are either mired in losses, or choose to accelerate overseas plant. The downstream industry output value of 200 billion yuan, annual exports of us $ 15 billion, and to accommodate a large number of employment, if the withdrawal will affect the great.

Longi shares is currently the world’s largest silicon wafer manufacturer, capacity is 3 GW, as Silicon to wafer costs about 40% per share, so fluctuations in raw materials prices has a great effect on their profits.

On May 25, the longi shares above and the formation of the second draft of the report, sign manufacturers new world ranking of PV modules manufacturer Trina, Yingli, as well as at the middle reaches of the chain of Tianjin zhonghuan semiconductor joint-stock company and huantai silicon technology company.

Upstream of Shaanxi non-ferrous metal group and Shanxi tianhong UCH silicon top. Insiders, Shaanxi days hongruike Shaanxi non-ferrous metal group with United States RECSilicon polysilicon manufacturers to establish joint venture company.

Longi equity strategy Director Xia Aimin said May 25 report, combined with PV on the middle and lower reaches of enterprises, reflecting the general interests of the photovoltaic industry.

From upstream of the photovoltaic polysilicon manufacturers one or two lines, such as the GCL, daqo new energy, TBEA, Luoyang SI, advocated continued to restrict polysilicon processing trade imports.

GCL-poly Lv Jinbiao, Deputy Chief, told reporters, downstream worried about the domestic polysilicon production is not necessary. Close the processing trade affects only “double back” higher tax rates of the United States imported polysilicon, because Korea tax rates low, Germany price promise, you can still continue to import. China in 2014 from United States imports 20,000 tonnes, in part by growth in domestic production to make up for the gap.

China Nonferrous metals Association statistics show 2014 domestic polysilicon 135,000 tons in China, imports of 102,000 tons in 2015, GCL, TBEA and other domestic polysilicon enterprises of new capacity will have been put into operation, expected to total capacity of 210,000 tonnes this year, produces more than 160,000 tons. That is, 25,000 tons can be covered in 2014 2015 yield since the United States imports of 20,000 tons.

LV trophy also said current GCL and technical capacity of TBEA supplies Silicon n-type single crystal silicon chips with the highest quality requirements. This part of the Silicon material demand of 80 million tons for the year, 4% of the total amount of domestic polysilicon, imports production total imports of 10%, and not affect.

Enterprise gross profit rate is higher in the upper reaches of the longi said shares, Bloomberg new energy analyst Wang Xiaoting considered, taking into account the upstream high equipment costs, its profitability is not optimistic.

According to the Bloomberg new energy finance, this year’s top four domestic polysilicon production enterprise includes daily cash costs of amortization, GCL-poly for 15 USD/kg, complete $ 12.5/kg, TBEA and Luoyang SI in 18 us $/kg, other producers of polysilicon costs at around 18 ~ 20 us $/kg. Early June 5 consecutive days of domestic polysilicon average market price of $ 16.11/kg. Visible at the current prices, most of the polysilicon business will lose.

Profitability is upstream pushing continued to block a major reason, and raw materials companies hope the price is as low as possible. However, according to Wang Xiaoting analysis, taking into account the current polysilicon prices are lower than the cost of most foreign manufacturers, even bulletin 58th immediately canceled, United States polysilicon through processing trade exports to China, the prices will pull, because no companies willing to sell at a loss. However, global supply determines the level of prices is limited.

2014 global total of 304,000 tons, for the production of polysilicon products 55 GW, real consumption is 43 gigawatts, formed 12 GW of inventory. 2015 expects world output of 350,000 tons of polysilicon products for the production of 65 GW, is expected to total annual demand of between 52-58 GW. Polysilicon oversupply situation is obvious.

Many industry insiders say, polysilicon has formed a global competition, price monopoly will not occur in China, not long because imports also harm the interests of domestic enterprises. Policy for price fluctuations have a certain influence, but the prices decided by market supply and demand.

Pick a card

“Whatever bulletin 58th continue or cancel, upstream and downstream businesses suffer no existential threat. “Wang Xiaoting said,” but we still want to compete, the policy bias is better than no bias. ”

Lv Jinbiao said the PV Business Bulletin 58th big prices and raw materials, bulletin 58th to be executed first notify the foreign manufacturers, lower import prices as much as possible, and then told the domestic polysilicon companies, in their 58th article request cancellation, processing trade will continue, forcing domestic polysilicon companies with falling prices.

Companies try to push down the price of imports and raw materials there is a sorrow. TBEA Xinjiang Gan Xinye described to reporters, Deputy General Manager of the silicon industry, long before 2009, a large number of enterprises entered into long term contracts with foreign firms, at a high price to secure a 8 ~ 10 years of imports of silicon, currently prices you can balance your overall cost of polysilicon.

2008 to 2012, the polysilicon price changed from $ 300/kg to $ 20/kg Cliff fall, but many Chinese companies in early to sign long term. According to public reports, Suntech of bankruptcy, debt was in large part due to the long form. Trina in early 2011 or earlier signed a long term contract for $ 14.6 billion in the period, the Executive term for 2012 to 2020. Europe’s largest polysilicon manufacturers Germany WACKER also said in its announcement, 2014 lifted first quarter received a long contract indemnity payments, the total amount of € 114 million.

It is understood that the present Germany WACKER polysilicon exports to China with an average price of us $ 20 per kg, while the market price is about $ 16/kg. There are some Chinese enterprises in carrying out and Germany WACKER long.

Media Director Trina see ye Chao, told reporters: “I don’t know whether the enterprise and foreign enterprise’s long, but 58th announcements involving the core problem is not long, but the enterprise bargaining. ”

He said bulletin if you cancel the 58th, Trina can own a small number of wafer capacity, and by processing trade imports from abroad to protect their bargaining power. If you do not cancel, polysilicon only imports through general trade, or at least to pay a tariff of 4%, and would weaken the bargaining power of the domestic upstream.

Subject to policy implications, in addition to the domestic upstream and downstream firms, naturally there are foreign manufacturers.

According to insiders, as early as 2012, China announced the United States, Europe polysilicon products are “double reverse” when filing, United States RECSiliconREC polysilicon manufacturers began to engage with China, seeking to build plants in China. In October 2012, REC will visit Shaanxi nonferrous metals group. Until February 2014, the REC officially signed an agreement with Shaanxi nonferrous metal holding group, started 20,000 ~ 30,000 metric tons of polysilicon project joint venture, cooperation in building advanced fluidized bed process polysilicon production lines in the world.

Peng Hongbing, Deputy Director of the information Division at the Ministry, REC to build factories in China, has always been followed “double reverse” pace. Whether or not the project will be the most advanced manufacturing technology to China there are uncertainties, as the foreign technology and equipment exports to China, which has been retained.

Vice Chairman of China Nonferrous metals Association Zhao Jiasheng told reporters, PV upstream and downstream enterprises should not blame each other, finger-pointing and down, to form a community of interests, with a complete industrial chain to participate in international competition.

No matter how the enterprise struggle policy ownership or control in the hands of the Government–and how trade policy depends on the opponent Court.

Director of the Legal Department of the China Chamber of Commerce told reporters Chen Huiqing, in July 2015, the United States on China’s first photovoltaic product review final round double reverse. At this point, the United States of polysilicon processing trade orders are also executed, 58th, which notice will really start to work, to export to China will have to pay the high tariffs in the future. It took a card equal to the two sides, and have a chance to sit down at the negotiating.

Bulletin 58th card how to play? Wang Xiaoting judgment: “China’s expectations of the policy, the General was further, China further; others take a step back, step back in China. ”

Second, comprehensive OEM too early

Solar downturn a few years ago, Taiwan manufacturing giant Foxconn announced high profile into the photovoltaic industry, Shanxi, Jiangsu, Guangxi and other places and actions.

In April 2015, as leading photovoltaic Yingli Green energy trying to “crowdsourcing” model, which took ingot wafer links a 100 megawatt capacity line, for Foundry operations.

Similar cases are not uncommon in the world. United States Sunpower Corporation have been using large electronic services company Jabil and Flextronices foundry, Japan sharp have been shutting down its plant in Europe and the Americas, will produce delegates to County enterprise.

Chief Financial Officer of Yingli Wang Yi told reporters more than, PV module has become a traditional industrial products, enterprises require batteries and casting core technology, the rest of the manufacturing sector can OEM, PV manufacturing to asset-light like a iPhone mode of operation.

But it seems to more people in the industry, Yingli select “crowdsourcing” model has its high debt rate cause, other options are based on avoiding “double reverse” considerations. China PV industry as a whole, lack of unique core technologies that premise, full OEM too early.

To avoid “double reverse”

Chinese Photovoltaic Industry Association, according to a new report, 2014 international PV market price of about $ 0.62/w. 2008 ~ 2009, the market is prone to as much as $ 4/w.

PV manufacturing technology upgrades and increased competition lead to lower prices, gross margin line decreased, average gross profit margin has fallen from around 50% in 2008 to present 10% ~ 15%.

Wang has more than think, declining profits, will inevitably bring about changes in manufacturing. In 2014, in the fierce market competition, some large PV manufacturers in order to reduce costs and retain technologically advanced production lines, shut down higher cost production line, the extra OEM orders entrusted to third parties.

In addition to looking for domestic workers, and some manufacturers have started “go” to find factories abroad. Yuhui solar PV manufacturing enterprises in China have been in 7 countries with 11 manufacturing facilities to establish a long-term OEM relationships, Foundry capacity 1.1 GW, accounting for about half of the company’s total capacity.

Yuhui solar overseas OEM models starting in 2012. Main aim is to address the trade war against China’s photovoltaic products, and in India, and Poland, and South Africa, and Malaysia established a foundry, operations process is a Chinese design, procurement of raw materials from local suppliers, offshore production, local sales.

Not unique. On May 6 this year, Trina announced that it would invest $ 160 million in Thailand building capacity of 700 megawatts of photovoltaic cells and 500 MW of PV modules project in late 2015 or early 2016 is expected to formally put into production.

On May 26, another Chinese PV brands jinko announced in Malaysia to invest $ 100 million to build the plant already in operation, respectively, with 500 MW battery and 450 MW capacity. This is the apt in South Africa and Portugal’s third overseas plant outside the component factory, is the largest one.

Jinko global brand spokesperson told reporters Qian Jing, the factory located in Malaysia, Penang, local governments to attach great importance to, and mainland China more attractive tax benefits, as well as local power supply and infrastructure is also perfect.

Although overseas manufacturing is a common, but Qian Jing said current jinko “go out” in order to circumvent the purpose of Europe and “double back”, we also value our photovoltaic potential in emerging markets in Southeast Asia, but large-scale overseas contract also is not realistic.

In her view, Malaysia though for some countries, good investment environment, but also in the supply chain can not be compared with China, China’s status as a global PV manufacturing base still can’t shake.

Xianshou LI Yuhui solar Chief Executive, has said publicly that its overseas manufacturing costs than in domestic higher cents per watt production cost. Only when China PV module encounter trade barriers overseas OEM products have a competitive advantage.

Technical bottlenecks

Foundry patterns on the premise that mastering core technologies. But it seems to Peng Hongbing, Deputy Director of the information Division at the Ministry, Chinese PV industry currently has a disruptive technology.

He told reporters, before 2012, PV cell conversion efficiency can be increased by 0.5% every year, then, the entire industry matures, the slight gap in companies in the technology, but they are in mainstream technical tinkering, no disruptive technologies. Determines the current PV companies the cost gap is small, improve their profitability is mainly rely on economies of scale.

Cost of PV modules composed mainly of Silicon cost and non-Silicon cost. At present, the Silicon of price has dropped to $ 0.09/w, almost fall. Non-Silicon cost will depend on auxiliary, supply chain management and procurement, bargaining power, and so on.

Terms of Yingli, Trina and jingke disclosure 2014 data can be seen, non-Silicon costs are around $ 0.36/Watt, the same. Major PV enterprises in order to share costs, continuous expansion. Rely on economies of scale, do not easily give up their capacity.

In 2014, the components of China 35.6 gigawatts, up 30%, 68.5% per cent of global production. Among them, several big photovoltaic company Trina solar, solar, Crystal, shipments increased and 41.8%, and 52.3%.

One industry source said Yingli chose “crowdsourcing” model, is because of Yingli’s current debt ratio exceeds 95%, Yingli occupy a significant portion of the whole industry chain development mode of cash flow, “package” is the last resort for them.

The above analysis, Yingli solar wafer capacity 3 GW, lower costs in large-scale production mode, “crowdsourcing” out of 100 MW capacity, than Yingli itself more efficient.

Jinko global brand spokesperson said Qian Jing, Apple’s patent-pending technology for thousands of species, only really into volume production, this ensures that Apple has a strong technical reserves and continuous innovation. Only such enterprises could achieve full contract, asset-light operation. China PV full OEM age is still very far away.

Third, the subsidy is not lost “crutches”?

Due to the photovoltaic power generation was more expensive than traditional sources of energy, therefore, in its initial stage of development of all countries in the world to give appropriate subsidies. China is no exception, for terrestrial photovoltaic power plants and distributed PV benchmark prices and direct subsidies respectively.

Installed capacity has been rising but allows subsidy funds to make ends meet. When like Germany and other countries to eliminate subsidies, become a question.

2014 national energy work Conference has released information, explore the formation of realistic distributed PV business models, gradually reducing power generation costs, striving to 2020 PV user-side parity.

PV Professional Committee of China renewable energy society, Deputy Director, national development and Reform Commission’s Energy Research Institute researcher Wang Sicheng told reporters his judgment: by 2025 to 2030, PV is expected to achieve parity in generation side, when subsidies are expected to reduce or even cancel.

Heavy subsidies

PV subsidy policy according to 2013 on the play, national development and Reform Commission issued notification of price leverage to promote the healthy development of the photovoltaic industry.

For PV power plant, according to local solar resources and construction costs, the country is divided into three types of resources located 0.9 Yuan per kilowatt hour, 0.95 Yuan, 1 electricity price standards. Of distributed solar power projects, implemented in accordance with the electricity subsidy policies, subsidies for 0.42 Yuan per kilowatt hour.

“PV subsidies should be in accordance with the needs of the industry and investors to identify, much less, is not appropriate. “National Energy Board new energy and renewable energy Liang Zhipeng, Deputy Director, told reporters.

PV subsidies are the main sources of renewable energy development fund, the funds, including the renewable energy development project funds to power users and additional renewable electricity price levy income.

But in recent years, with the rapid development of renewable energy such as solar and renewable energy development fund has enough to pay the subsidy required. Subsidy funding gap in arrears may have an adverse impact on the healthy development of the renewable energy industry as a whole reality, national standards for renewable electricity price surcharge from 2006 0.1 cents per kWh has been progressively increased from 2013, 1.5 cents, up to 15 times in 7 years. Even so, the funds raised are still struggling to meet your needs.

A Insider who declined to be named, the current, solar power subsidies in arrears of over 5 billion yuan this year, still faces a funding gap.

National development and Reform Commission said that 10.7 billion yuan of subsidy arrears before 2012, has passed the financial allocations and reissue the small-fund balances in recent years, but the current total electricity consumption growth is slowing, levy increases less than demand growth, renewable energy electricity price surcharge to standard or will be raised again. This will no doubt once again increase the cost of electricity consumption of the whole society.

Cutting problem

2014 PV power generation accounted for 0.46% of the total national and development space is enormous.

But the current photovoltaic power generation costs have fallen to about 0.7 yuan per kilowatt hour, is still the most about desulfurization of 0.38 Yuan per kilowatt hour nearly twice times the new benchmark coal price. Obviously, if there is no subsidy, PV is not valuable.

State encourages the development of PV power plant, one reason is that European and American “double reverse” or export, need to address upstream products to dissolve, and promote the healthy development of the whole industrial chain. In other words, subsidize power generation side is also supporting the photovoltaic manufacturing companies.

Under the existing subsidy policies, in 2014, the new grid-connected photovoltaic capacity 10.6 million-kilowatt, using only the PV module production in China was one-third distributed PV in the context of national 0.42 Yuan per kilowatt subsidy, only complete the planned 26%, PV manufacturing provinces to take from that some local government-funded subsidies.

Researcher at the Energy Research Institute, national development and Reform Commission, Shi 璟li, told reporters in the short term to achieve PV parity, rely on PV’s own cost reduction alone is difficult. If external thermal and power by accounting cost, raising the price of electricity, solar parity of process will be much quicker.

However, the power price has not increased, but in August 2014 cut. One industry source said that this fall in coal prices based on the theory of price adjustment and deviated from the actual cost of thermal power, rather than encourage PV and other renewable energy parity, but also led to increased spending on renewable energy subsidies 10%, nearly 5 billion yuan.

“Thermal and power external environmental costs are not calculated into the price case, what makes you want to cut solar subsidies? “National strategy for climate change research and international cooperation, said Li junfeng, Director of the Center.

Children eventually grow up to be

Drinking subsidies “milk”, PV is not improving. Shi Dinghuan, Director of Counselor of the State Council, the China renewable energy society, told reporters that in recent years, enterprises ‘ technology innovation and industrial development as the main body, key technology research and development, production levels have made great progress, further localization of production equipment, photovoltaic power generation costs decline, provided the basis for cheap Internet access.

Wang Sicheng also believed that by altering the ratio of inverter power, configure a smart metering system on the station, speed up the high conversion efficiency and long life of development and industrialization of solar cells, reduce product cost, improve total installed generating capacity, you can accelerate the process of parity.

In addition, through technological innovation can reduce energy consumption of production and material loss. For example, yield improved wafer cutting, thick-soled reduced, improving the yield of cells and modules, are able to drive costs down.

2013 national development and Reform Commission in the development of photovoltaic power stations a benchmark price and subsidy policy, PV system cost is 10/w, is now reduced to about 8 Yuan/w.

In the view of some in the industry, cuts in subsidies for PV industry is not a bad thing, photovoltaic market increased, forcing PV companies to further reduce costs, improve efficiency, orderly and healthy development in the competition.

Vice President of the China renewable energy society Meng Xiangan told reporters, subsidies in the early development of PV industry is a must, the eventual elimination of subsidies is inevitable. State subsidies for PV is like parents for child support before the age of 18, children must grow up eventually living independently.

Four, can’t afford to help distributed PV?

Distributed PV push by Government forces, but has not been sought after in the market.

National Energy Board data show that distributed PV 2014 target for new installed capacity 8 million-kilowatt, actual completion of 2.05 million-kilowatt, only completed the target one-fourth.

Large scale photovoltaic power plant compared with the ground, wide range of distributed PV applications, in both urban and rural construction, industrial, agricultural, transportation, public facilities and other areas has broad application prospects, while the installed capacity of small, easy to dissolve or grid.

Therefore, in 2014, the National Energy Board adjusted the distributed PV development goals power plant above ground target in 2015, National Energy Board to cancel restrictions on the spontaneous use of distributed PV project indicators.

But because of the high investment costs, lower income, distributed PV ground is ineffective.

National Energy Board new energy and renewable energy Liang Zhipeng, Deputy Director, told reporters, distributed PV market in China reached 300 GW (300 million-kilowatt), now we must focus on good policy implementation, streamline processes, installed grid-connected and subsidies issued to achieve without any obstacles.

The next step is based on local absorptive, establish a city-level distributed power market, establishing of distributed PV enterprises selling rights, optimal use, promoting the development of distributed PV.

Polaris solar PV NET week hot selection (6.22-6.26)

Polaris solar PV net news: policy review

1, Hubei Provincial Bureau of commodity prices, energy price subsidies for new energy generation project notice on relevant issues

Hubei provincial price Bureau, provincial energy Board issued price subsidies for new energy generation project notice: in 2015, and by the end of the “Thirteen-Five” period, Hubei Province built wind power, distributed PV, PV and biogas projects, will enjoy the price subsidy tentatively scheduled to last for 5 years.

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Market review

Where is 1, the next solar hot market?

After Germany 2004 PV Summit stage, international in addition to China, Japan and the United Kingdom and a few other areas, thrilling PV market has emerged for a long time. India are expected to become the new hotspot in PV, which have attracted global PV companies, including China or capital to follow up.

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2, our products and PV grid-connected “threshold” double upgrade

Recently, three ministries jointly issued a Declaration on the promotion of Advanced photovoltaic technology application and opinions on industrial upgrading. In addition, the “study on photovoltaic grid-connected power generation key technology standards” project was accepted in early June. From “manufacturing” and “applied” both market and technology products and PV grid-connected double upgrade access standards.

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3, photovoltaic industry, “new worry”

In July this year, will face China or United States first solar “double reverse” review zhongcai. Identify high and low tax rates will determine PV product sales in the United States, China and even the global PV market. China also holds a “brand”. Last August, the Ministry of Commerce and the General Administration of customs jointly issued “Bulletin 58th” plugging in processing trade to avoid “double reverse” behavior. Trade between China and America at the same time, the domestic photovoltaic industry battles because of the intertwined interests: or would benefit from blocking upstream firms called for the continuation of the policy of blocking, downstream that depend on processing trade enterprises are urged to let go.

For more details

4, the domestic polysilicon inventory falls brewing PV industry chain in July raised prices

Polysilicon in the market the stock of a major solar energy supply chain price weakness in the first half. However, China intends to suspend manual way of processing trade, and review the polysilicon overseas imports, polysilicon inventories declined, in July prices may rise.

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5, China solar panel industry-dominating?

United States market research firm GTM Research’s latest report showed that China has become the world’s largest solar-panel market in 2015, China new energy generated by the solar panels of 1/4 per cent of the global total. China is rapidly increasing electricity generation, solar energy is just one of China’s new energy sources.

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Comment article

1 PV to China last spring, and the European Union intend to do?

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2, 25 years later what to do with PV?

Said PV is a green industry, but 25 years later, when after the expiry of the photovoltaic plant services, PV modules, electrical equipment, brackets, concrete foundations need to be recycled, there is no doubt. Improper disposal may cause significant pollution to the environment. However, who’s going to do about it?

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3-China deal good PV?

If you want to ask in 2014, what is the most profound and far-reaching influence on China’s PV event? old which of the Red Cross said it was not a major policy introduced, nor which huge influx of capital, but last year at the APEC High level meeting in Beijing by the end of the agreements signed by leaders of both countries.

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4 c, green treasure can leverage PV b?

When I first heard green treasure and its mode, I was rejected: people always doubt and alienation does not understand things. Let general public investments they do not understand the photovoltaic products and are not interested in the means of production – was “nice try”. But then I thought about it, for sheer volume, industrial partisanship to pry the PV industry public market, do you have any better idea than Peng Xiaofeng?

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5, PV industry crisis induced by quality problems?

2014, the development of PV industry in China has warmed up, part of the backbone enterprises to achieve a number of quarter profit. But at the same time, frequent product quality problems in the construction of photovoltaic power station, industrial development prospects and credit system encountered serious challenges. In this regard, Sadie think-tank, Institute of electronics and information industries, said the study, beware of PV industry crisis induced by quality problems.

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Enterprise version

Tencent jointly 1, evergrande HK $ 750 million stake in Mascotte

Health industry through backdoor listing, hengda Group on the Hong Kong stock exchange and a new action. Mascotte 23rd announcement of listed companies in Hong Kong, shares in the Group were constant and Tencent big ticket purchases, purchased two giant stock Mascotte holdings expanded ownership interest 75%, this means constant and Tencent teamed up with a Hong Kong-listed company on both sides and evergrande will become the largest shareholder.

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2, combined PV Howe threw three days of billions or induce a new bubble?

PV na of China Merchants group-the joint PV is rewarding in downstream areas. Combined PV headed downstream power station, it is now a microcosm of the photovoltaic plant investment boom. Today, apart from some specialized enterprise operating power plant investment, some traditional PV module manufacturers are starting to extend downstream, raising fears of a new round of PV investment bubble in the industry.

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3, LDK LDK dormant: plans to get back into stocks the main Board?

Since completion in 2014 after overseas debt restructuring, LDK LDK Solar company plans to return will become stronger and stronger. In April this year, sinovideo announced the end of the provisional liquidator, which means sinovideo has successfully removed the overseas debts of 700 million dollars. These days, including Mahon Silicon material plant, sinovideo wafer, component and the power plant has resumed production of these four Division.

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4, SOFTBANK jointly Foxconn hit 20 billion dollars into India the solar industry

Every asset rich and sensitive tentacles of the international big brothers are clearly using every opportunity to enter location will probably jump in economic growth globally and India. This time, they pegged the country’s Prime Minister MODI enthusiasm for solar energy, hoping to find new opportunities.

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5, Jinke shares: new energy plan and reducing

“Great Thunder, the rain is very small.” On Genco stakes billions of investment in new energy plan during the year, some investors said, 2015 forms, companies gain access to new sources of energy has not any substantive action while shareholders are frequent reduction of the company’s shares. Its blunt being “new energy plan” pulled.

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Character articles

1, Cao renxian on the five misunderstanding of PV

At present, renewable photovoltaic in particular in the field of the great misunderstanding, these perspectives and logic have been deliberately distorted. Without proper professional understanding of PV industry development might adversely impact on industrial development. “A few days ago, Sun power General Manager Cao renxian on Germany Munich, told reporters the international PV Expo.

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Polaris solar PV NET week hot selection (6.15-6.19)

Polaris solar PV net news: policy review

Shaanxi Provincial Development and Reform Commission, on 1, submitted to the provincial subsidies General distributed photovoltaic power generation demonstration project notice

General Office of the Shaanxi Provincial Government to implement the model of promoting the implementation of distributed PV (Shaanxi Government issued (2014), 37th), Department of finance, development and Reform Commission, Hall, housing the Office jointly issued by the provincial model to promote distributed photovoltaic subsidy Regulation (Shaanxi finance office building (2015) the 133th).

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Market review

1, within two months to raise 15 billion PV companies do not lack money to speed up power plant acquisition

PV in place, implementation of new policies more forcefully this year, coupled with banks and other financial institutions recognized for industry in raising, leading energy companies have flexibility in the use of various types of financing to expand their cash in hand, and scramble to buy power plants projects. 5 June of this year, many solar companies are through the issuance of convertible bonds, private placement financing, raised a total of nearly 15 billion yuan annually.

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2, the Handbook will expire polycrystalline silicon manufacturers look forward to policies

Handbook of near-failure, some downstream firms polysilicon processing trade imports have increasingly felt the threat of being blocked, and the resulting wafer, cell, component, its profit margins drop, enterprises into loss and other serious consequences. Experts called for relevant departments of the State shall take effective measures, in parallel with the proper protection of domestic polysilicon industry, and more to take care of the middle and lower reaches of the survival and development of enterprises, urging a win-win situation, should continue the processing trade, Enterprise and industry policy of insurance.

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3, United States domestic PV Giants to seize the Chinese market enterprise to do?

United States Golden Sun, China Solar giant First Solar has once again achieved certification into China’s PV market intentions clear. Meanwhile, the Chinese PV industry suffered by European and American States “double reverse” sanctions. Industry insiders said, exports, domestic market foreign market squeezing challenges, PV enterprises face a double whammy, in need of Government support.

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More than 4, PV manufacturers first quarterly report released: performance mixed

Until early June, several photovoltaic listed companies ‘ first-quarter earnings reports begin to emerge. Although earnings last year is generally positive, but under the influence of various factors, first quarter of the year, the earnings of listed companies were mixed.

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5, Europe and the “double reverse” extremely sharp PV enterprises how to take that?

Recently, China PV exporters destined to peace, whilst several countries within a few days the Chinese PV industry is anti-dumping, anti-subsidy investigations. Successive initiatives, useless for PV enterprises export Europe and America is a bruise, directly led to the decline in Chinese exports of photovoltaic, PV business will also be affected.

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6, Shandong province distributed 100 million Yuan Special Fund for PV applications?

According to the Shandong provincial people’s Government on the implementation of the national development (2013) 24th, opinions on promoting the healthy development of the photovoltaic industry (Lu Zheng (2014), 16th) and in 2014 the province Special Fund for regional strategies to promote investment, the provincial development and Reform Commission, the Department of finance study and formulation of the Shandong province, distributed PV Application Guide to Declaration of special funds.

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Comment article

1, Hung Wei: how PV agricultural standards will be introduced?

Current PV industry needs standards, calls for standards for a long time, but progress of the standards-setting process seems to be difficult to get satisfaction in the industry. China’s industrial infrastructure is weak, it is hard to meet the needs of market development, PV is particularly true in agriculture. If there is no standard of those signs done photovoltaic PV agriculture enterprises will give solar a significant negative impact on the agricultural industry.

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2, “deep reading” bright prospects for PV projects in agricultural greenhouse

Compared with the construction of centralized large scale photovoltaic power plant, PV agricultural greenhouse project has conservation of land resources, maintain the advantage of the nature of land use, which can reverse the decline in population growth and land conflicts triggered by promoting sustainable socio-economic development. In view of this, advancing photovoltaic agricultural greenhouse is undoubtedly the clean energy and dual-use an optimal model of modern agriculture.

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3, “reading” the three ministries jointly released the PV released what significant signal of the new deal?

On June 10, issued jointly by the three ministries for the promotion of Advanced photovoltaic technology product applications and upgrade views from market guide, product standards, financial support, product testing, and so have put forward concrete proposals and implementation of standards, our PV accelerated technological progress and industrial upgrading.

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4, “double r” without reading too much into the technical upgrading is key

Today, targeting China’s photovoltaic products in foreign countries “double reverse” has become the norm. Reduce trade frictions, key is to accelerate industry consolidation and restructuring and technological progress, the real transition from scale to win to win with technology, only with even more competitive in order to be accepted by the international market.

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5, distributed PV into the community and into the village what’s the difference?

Policy support, under the enterprise promotion, user experience, distributed PV into the millions of households and into the community, schools, factories, rural areas, and other places. In urban district (except Villa community, community of individuals could take complete control of the entire House) and rural villages, distributed PV in the what is the difference between the two.

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Enterprise version

1, Ying LI: going concern risks to hide?

Recently, in United States-listed Yingli company is facing class-action suits, tied to litigation on chariots. In the following electric solar, LDK after, Canadian solar PV solar, Suntech, face class-action lawsuits and a Chinese solar industry companies listed in the United States. Zhuo Jimin, author of the transatlantic fight with you to discussion and analysis of the basic situation of the lawsuit.

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2, bottom-King “Zheng JianMing shot thousands of silicon or wake up

Card access share Chairman Shi Wanfu deep throat the root “Thorn” was “pulled” out, thorn is the actual controller Zheng JianMing of tailwind international. Thorn is stuck in the Shi Wanfu throat Luoyang Wannian silicon industry co., Ltd.

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3, low-price purchase of associated Enterprise *ST integration suspected tunneling

On June 4, *ST throws one of up to 2 billion restructuring plan. However, *ST integrated plan was announced, was opposed by small investors. Their reasons for objection, pointing to the *ST integration at 1 low price to raise equity in order to dilute small investors ‘ rights, while “father purchased”, “conspiracy”, has also been questioned of suspicion of conveying interest.

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4, land holding presence of sudden change leader’s controlling shareholder, partner

On June 18, a little after 10 o’clock in the evening, PV land holdings sudden replacement of the Chairman of the Board of Directors of listed companies in Hong Kong. New Chairman Ji Ma had no experience in the photovoltaic industry, but he is one of the most important identity—Pohua JT Private Equity Fund general partner of the private equity fund, its plus points.

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5, taiji industry was 11 technology to raise 2.1 billion building the large shareholder PV power station

Wuxi out State-led restructuring, taiji industry will be PV asset. Taiji industry June 15 announcement, company intends to Wuxi, Wuxi industrial group of controlling shareholders and the gold cast, Zhao Zhenyuan and Chengdu to issue shares to buy their holdings of 11 technology 81.74% stake.

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6, Heraeus sued for patent infringement-Shuo Wo: burden of proof with defects

Shuo Wo recently by Heraeus branch of the American company for patent infringement litigation. On May 15, the company said, view Heraeus civil complaint, found that his claims and proof that there are serious flaws, has commissioned external lawyers research whether the Heraeus company involved abuse of patent rights, and violations of fair trade possibility of prosecution or civil action.

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Black technology: pure silicon “black Silicon” simplifies solar cell manufacturing

Polaris solar PV net news: the United States, Rice University (RiceUniversity) researchers have discovered a method that simplifies solar cell manufacturing, as long as the use of electrodes at the top as the catalyst, pure silicon can turn out to be valuable “black Silicon” (blacksilicon).

Black Silicon Nano with smaller than a wavelength of light projection or highly textured surface of the pores, so that it could at any time of the day effectively collect light from any angle. Andrew Barron, a Professor of chemistry at Rice University, said he had spoken with the team after adjusting for black silicon manufacturing for a long time, now driven by advances in technology, is expected to contribute to its further progress towards commercialization.

Barron said the study conducted by Rice University postdoctoral fellow Yen-TienLu now has made two important discoveries. “First of all, to reduce process steps is always a good thing,” Barron says, “second, this was the first metal used as a catalyst for reaction outside of the few millimeters away. ”

With metal electrode layer as the top of the final step of the method is often applied to solar cell manufacturing. This is called “contact-assisted chemical etching” new ways you can process at an early stage for gold thin wire electrodes, and then remove the used catalyst particles.

The researchers found, etched in a chemical bath deposition also occurs outside of wire set distance place. Barron says, the distance appears to be associated with Silicon semiconductor properties.

“Yen-Tien react to Gold contacts at the top, and add silver or gold as a catalyst, and achieved good results”, Barron explained, “then I said, ‘ let us now do not join catalyst experiment. ‘ All of a sudden, we get a black Silicon – but it can only be at a certain distance away from contact for etch. No matter how we test, there will be such a distance. ”

Electron microscope image shows used to making the solar cells on the surface of the chip that can absorb light fine protrusions and porosity. Rice University researchers have developed in black silicon technology and dual task–as a catalyst for accelerated etching on the surface of the gold electrodes.

Source:RiceUniversity/BarronResearchGroup

“This result tells us that the electrochemical reactions take place in the metal contacts, and maintain a certain distance with silicon,” Baron said, “this distance depends on the charge-bearing characteristics and conductivity of Silicon crystal. Sometimes, conductivity is not enough charge to a farther distance cannot be hosted. ”

Covered in titanium above a layer of extremely thin gold wire has proven to be an effective electrode can be used as a catalyst. Barron emphasized that “the key is to etch deep enough to avoid the Sun’s reflection, and if deep enough may eventually lead to battery. ”

“Metal contacts are usually the last place,” Barron says, “at present in the process there are many unanswered questions, such as whether to place contacts as soon as possible? And in the process, such as whether you want to use it for a chemical reaction. ”

Original title: black Science: pure silicon “black Silicon” simplifies solar cell manufacturing

Abolition of non-administrative license in advance approval of enterprise investment in Jiangsu Province distributed PV project approval delegated to municipalities

Polaris solar PV net news: the recent decision by the State Council, sharply reduced in the early part of administrative approval items based on the cancellation of 49 non-administrative approval items, 84 non-administrative approval items adjusted for approval within the Government, are not retained in the future “administrative approval” in this category. Reporter was informed yesterday from the Jiangsu Province, series, full liquidation as early as last September, Jiangsu had canceled the provincial non-administrative approval items, making Tianjin second after a total abolition of the provinces of non-administrative approval items.

What is a non-administrative approval? “Generally refers to administrative bodies and administrative law enforcement power of institutions or other organizations to implement, except pursuant to the laws, regulations and decisions on the matters of administrative license established by the State Council approval. “Series Director Yu June, Jiangsu Province, said that in law it is classified as a” do not apply to the approval of the administrative licensing law “, but are often used as auxiliary, supervisory measures, many derived from the administrative approval items, derived from” system back “and” grey area “.

The combed, provincial-level departments original items for administrative approval on 224. Cleanup process involved aspects, I province established 5 article principles: oriented citizens, and corporate or other organization of non-administrative license approval in principle all canceled; government sector Zhijian, and oriented City County Government, aspects of non-administrative license approval matters, in principle be canceled, does needed retained of can adjustment for Government internal management matters; according to matters nature and set according to, as belongs to administrative confirmed or other type of administrative power, can to corresponding of administrative power matters; oriented citizens, and Legal person or other organization with a clear legal basis and the need to retain the administrative approval, can be converted into an administrative license; others really necessary to be retained, in accordance with the relevant provisions of the administrative licensing law, applied to the provincial government to create a temporary administrative permission. According to the above principles, tasks completed cleanups of administrative approval items.

Abolition of administrative approval, laying the Foundation for establishment of province administrative approval items list, this list is my province, “517″ reform “list five” one. “Before the start of a new round of decentralization, administrative approval items 889 in our province, provincial departments retain 375 of administrative licensing items at present. “Yu June introduced actually cancel the decentralization adjustment 56.9% of the total number of items requiring administrative approval, ahead of complete decentralization of administrative approval items of more than 13 goals.

Jiangsu’s administrative examination and approval system reform has been the State Council, central part of the high degree of recognition. In addition to the complete abolition of administrative approval, Jiangsu in the process of establishing administrative approval items list to improve cancellation and devolved matters “gold content”. First of all, cancel delegation vigorously with investment, employment, innovation, economic growth and enterprise production and management activities related to the administrative approval procedures, further stimulating market vitality. For example, “encourages foreign-funded enterprise project confirmation letter issued by the” “electric bicycle products in Jiangsu province for the record” and “third party logistics warehousing and transportation approved” cancelled, “business investment approval of distributed solar power projects” “application for funds from the central budget for State-owned condition shanty project approval” and other matters delegated to the provincial government. Second, the grass-roots level, involving the people’s livelihood-oriented administrative approval items, cancel or delegation of city and County government management. For example, “social welfare organisations and set up an approval”, “unpaid by the bankrupt enterprise endowment insurance write off” “establishment of water conservancy tourism project approval” and so on. Meanwhile, clean lift the investment threshold, seriously hindered the enterprise and personal autonomy, initiative qualification accreditation matters. For example, “project management practitioner qualification of surveying and mapping” “fishing crew qualification for secondary and tertiary training institutions”, “disinfectant products inspection body that the”, “afforestation engineering qualification and approval” and so on.

In late October last year, the province’s 52 provincial Department has announced the list of list of items requiring administrative approval, to achieve a “directory without approval.” “List of administrative approval items list will be further ‘ downsizing ‘, the current list is not published on the existing administrative examination and approval matters be cured. “Yu June introduced, due to the State Council’s administrative examination and approval system reform steadily, cancel the delegation of matters transferred to the provincial undertaking to cancel transfer, provincial administrative examination and approval system reform Office of the joint meeting will also listen to the views of the various sectors of the community on the basis of cancellation down, therefore, the province will change the number of provincial-level administrative licensing items. Recently, the provincial government will remove delegated to undertake a number of items. He disclosed that decentralization and also increase the intensity of supervision, “Government responsibility there is no reduction, but bigger and heavier”.

Original title: complete abolition of non-administrative license in advance approval of enterprise investment in Jiangsu Province distributed PV project approval delegated to municipalities

Shaanxi Provincial Development and Reform Commission submitted on provincial subsidies General distributed photovoltaic power generation demonstration project notice

Polaris solar PV net news: all municipal development and Reform Commission, City Economic Development Council, Yangling Demonstration Zone development and reform Bureau, XI Xian district economic development Council, the tree, the fugu-development and reform Bureau, the provincial power company, provincial electric power company:

For the implementation of the General Office of the provincial Government of the model of promoting the implementation of distributed PV (Shaanxi Government issued (2014), 37th), Department of finance, development and Reform Commission, Hall, housing the Office jointly issued by the provincial model to promote distributed photovoltaic subsidy Regulation (Shaanxi finance office building (2015) the 133th). Call for projects and funding plan for the further orders, and related matters are hereby notified as follows:

, Demonstration projects mainly refers to the roof, power generation, PV lighting, architectural integration, rural PV four species distributed photovoltaic power generation demonstration project. Demonstration projects focused on supporting the PV industry has promoted conventional distributed in photovoltaic power generation project. Priority support for all types of industrial parks, high-tech development zone, industrial park, villages, townships built as carriers of the concentrated even project demonstration area.

Second, the demonstration area (village, town) should set up a coordinating body, planning management demonstration area roofing resources, coordinated development companies and power users (building owner) related to the relationship between policies and measures to push record and grid access formalities.

Third, in promoting the construction of demonstration projects around, should focus on supporting projects can significantly promote the development of related industries in the province, and develop business models, investment and financing, specialized service model innovation. While exploring distributed PV electricity trading, consigned to adapt to the new energy development and integration smart distribution grid, finance innovation pilot project.

Please all parties strictly in accordance with the model push distributed photovoltaic subsidy regulation requirements, filing before the end of December 2014, grid-connected comb the model projects of the conditions of and in accordance with the Declaration, submitted to the provincial development and Reform Commission before the end of June 2015 (electronic version), press the attachment format to submit before the end of December 2014 grid-connected distributed photovoltaic project information. 5th in the first month of each quarter submit after all distributed PV project information in the previous quarter.

Contact: Ikurumi

Phone: 029-87292433

Email: wangren110@126.com

Annex: the city (County) of distributed solar power projects information table

Shaanxi Provincial Development and Reform Commission

The June 11, 2015

Original title: Shaanxi Provincial Development and Reform Commission submitted on provincial subsidies General distributed photovoltaic power generation demonstration project notice

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Us PV two giant joint venture YieldCo listing price of US $ 19-21 per share

Polaris solar PV net news: solar energy joint venture, composed of two vertically integrated giants in the field of solar energy (and competitors)–First and SunPower Solar joint venture YieldCo, has estimated its IPO price between $ 19-21. The company’s shares will be listed on the NASDAQ market, the code for CAFD. (CAFD is “instant bonus cash” abbreviation, which are important characteristics of YieldCo, as stock search code is a bit like financial nerd joke. )

According to a Reuters report, public offering of 23 million shares of class a stock, the price calculation of the interval, is expected to raise $ 480 million a month, so that YieldCo valued at $ 1.5 billion. First Solar and SunPower in the IPO will each hold 31.1% shares and 40.7%.

Goldman Sachs and Citigroup global markets limited will become the main IPO Bookrunners.

Here’s what the IPO in the United States SEC registered important information in the file S-1.

1. the assets of the public offerings combined installed capacity of 432MW, including “6 utility-scale solar projects, 4 of which have been run, only 2 left at the finishing stage of construction. ”

2. the proportion of utility-scale projects to the portfolio’s total electricity generation capacity of 87%. Remaining composed 13% of installed capacity of 5900 distributed rooftop PV.

3. household photovoltaic rooftop power generation assets by households with long-term fixed price lease of the underwriting agreement, into some agreement when households for the average FICO score reaches 765 high credit quality and consumer groups.

4. the public offering in its portfolio, weighted average maturity of the underwriting agreement is 21.3 years.

Most of the assets located in the State of California.

The past two years, including NRG, TransAlta, NextEra, Abengoa, renewable energy giant, rise to power generation portfolios to form YieldCo rush to market. Owned by SunEdison TerraForm acquired FirstWind power recently.

Washington Square capital management co-founder Louis Berger: “YieldCo has a company structure and emphasis on income (generated by the underlying assets held by the company). YieldCo model is somewhat similar to the oil and gas sector of MLP (master limited partnership), or real estate REIT (real estate investment trusts). These three modes of investment return reliable and stable cash flows to investors. Assets are all held by the YieldCo has signed a long-term power purchase agreement for renewable energy projects and to pay dividends to investors. ”

Financiers of GTM, citing a source close to the deal said: “this deal I think power is the” instant bonus cash. ” I suspect that both companies are, compared to their current operating renewable energy projects, CAFD of YieldCo as an independent company, its size is still too conservative and lightweight. “If you look at the public listed company acquisition statutory procedures, YieldCo subject to tighter supervision on fair trade in the future, this means that even as a sponsor, may not be able to manipulate the YieldCo and at what price to buy the assets. Why joint ventures with competitors, form a publicly traded company? These companies will quickly be accepted by the market and sponsors project also has a stable of future buyers. ”

Original title: beautiful PV two giant joint venture YieldCo listing price of US $ 19-21 per share

Polaris solar PV NET week hot selection (6.8-6.12)

Polaris solar PV net news: policy review

1, advanced PV product applications made by the three ministries and industrial upgrade

For the promotion of Advanced photovoltaic technology product applications and industrial upgrading, strengthen photovoltaic products and quality management, National Energy Board, industry and information Ministry and CNCA three ministries jointly issued the Declaration on the promotion of Advanced photovoltaic technology application and opinions on industrial upgrading.

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2, the Energy Council on advancing the implementation of the decentralization management optimization service

For in-depth implement central State of decision deployment, full implementation national advance decentralization put tube combined functions change work videophone Conference spirit, full implementation State 2015 advance decentralization put tube combined change government functions work programme (country sent [2015]29,), will decentralization put tube combined optimization service work to depth advance, National Energy Council website recently released on advance decentralization put tube combined optimization service of implementation views country can method modified [2015]199,.

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3, Shandong provincial development and Reform Commission notice on further improve photovoltaic power generation project management work

To further improve photovoltaic power generation project management work, promote the healthy and orderly development of photovoltaic power generation in the province, Shandong provincial development and Reform Commission recently issued the notice on further improve photovoltaic power generation project management work.

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Market review

1, EU’s PV why revolt?

EU initiates anti-circumvention investigation of China’s photovoltaic products. Insiders believe that the continuation of this investigation only after American and European anti-dumping measures, while preparing for the sunset review, hope the central price promise to continue.

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2, 2020 global PV installed capacity or 540GW in China is expected to lead growth

2014 is the benchmark for renewable energy – renewable electricity generation in Europe for the first time beyond. 2020 global cumulative solar installations are expected to report 540 GW, and 2014 to 40 gigawatts of installed data refresh history. China is expected to “leading the global growth”.

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3, six double reverse sanctions by countries within our PV industry needs to fit

United States PV to China the second “double” which has just released the final results, the EU launched the PV industry in China “the anti-circumvention investigation”, Australia PV to China “double reverse” sticks and lift. Facing “double reverse”, China PV industry entered a period of important development challenges and opportunities. “Reducing trade friction, first to increase their competitiveness and core competence of scientific and technological innovation. “The Vice President of the China renewable energy society Meng Xiangan said.

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4, EU sanctions over Chinese PV companies exporting to Europe costs

The European Commission announced over the weekend, three Chinese PV companies (optoelectronics, Yuhui solar solar solar, sein), high tariffs, and let each other out minimum pricing agreements (hereafter “MIP”). If implemented, the three companies 47% the average tariff will be imposed on export costs in Europe. The reporter learns, Canadian solar PV solar will continue to appeal, Yuhui solar and Sheng photoelectric will no longer be in output of PV modules from China to Europe, instead use OEM, capacity to transport the cargo in other regions, eventually arriving in European ports.

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5, 2015 PV inverter market expectation

2015 inverter market there will be three main trends: the Asian manufacturer of low cost will continue to rise; micro-inverters and DC optimization challenges the traditional centralized design; new PV demand will mainly come from three countries: China, Japan and the United States.

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6, the “survey” household PV power plant and why is “station” on the roof

Photovoltaic power plant must be installed in the family to own property or roof rights area. Problems of rural residents, mostly residential area of the city, power station construction requires public roofs, must obtain the consent of other residents and owners ‘ committees or neighborhood committees agreed that coordination is difficult. This became an important factor in restricting the construction of urban domestic photovoltaic power stations.

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Comment article

1, Apple Sichuan: draped “green Jersey” earn fame?

In less than a month’s time, Apple has a complete break of cooperation with China “products, sell products”, but an “investment products” the new stage. In mid-April, Apple announced in Sichuan soon build two 20MW output power of photovoltaic power plant. On May 11, Apple said its outsourcing manufacturing in China and the use of the logistics base, all using renewable power. “Apple wades China PV” messages when it was issued, once triggered a solar circle capital circle of fiery debate, obviously winning is, Apple wades China PV, but its production of green energy “gimmick”.

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2, Xu Ning: BIPV in Australia

Australia PV market growing rapidly, only in 2012 more than 1GW of installed solar photovoltaic power plant. However, Australia’s solar market is quite fragmented, mainly small ones, the use of solar energy products. Australia also emerge many classic BIPV projects.

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3, the “acclimatized” how long can help China PV

PV industry in China’s current prosperity is based on “acclimatized” protection. This protection will not last long, are not conducive to the long-term development of PV industry in China, in particular, the time when foreign companies on the Chinese market to win.

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4, analytic PV subsidy policy

Research on laws and policies at the national level on the basis of recent experience of PV electricity price subsidy application process, review and sort out the subsidies and other issues.

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5, solar-thermal power generation why should get more attention?

Solar photovoltaic power generation technology get explosive growth in recent years, the main reason is the price of PV systems over the past 25 years has decreased by about 99%, it is a shocking figure. But at the same time, another form of solar power–solar thermal power generation technology can only occupy a small portion of the solar power market.

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Enterprise version

1, the Ministry announced the fourth grant PV entry list of 51 on the list (table)

On June 5, 2015, the Ministry website to be notice in conformity with the PV manufacturing industry standard conditions of business listings (the fourth) for a total of 51 companies on the list.

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2, PV enterprises how to tell “the story”

Despite some domestic PV manufacturers in recent years and many more innovative attempts and efforts. But for those companies, may be due to not tell “stories” sake, the result is “got up early, drove a late set”, and finally although not left empty-handed, or you can pick up some other “leftovers” s. PV enterprises told “stories” lack of ability, there are also in the manufacturing sector.

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3, combined with PV 8.8 billion yuan to help sea run out

Reporters learned from the combined PV, hareon started the delivery of the world’s largest single solar power station acquisitions. Until then, the two companies have agreed on acquisitions, joint PV will buy hareon to 8.8 billion yuan in Xinjiang, Hebei, Yunnan, Shanxi, Jiangsu, 17 photovoltaic power plant, total installed capacity of 930 MW.

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4, *ST integration, formerly known as the SFC punishment investors claim

ST Suri after a Shanghai court decisions in insolvency, Jiangsu GCL selection and recombination to life. But such historical questions of the investors and are not fully resolved. On June 6, *ST integration announcement said the company had received before the bankruptcy reorganization by the SFC, the original Super day shares of the written decision of administrative penalty and the market entry of decision. Shanghai Hua Rong Xu Feng law firm lawyers introduced more than more than 30 investors in its agent will be submitted to the Court on June 8 filing applications, Super stake claims to the *ST integration of false statements.

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5, ja privatization or to pave the way back to the a-share: Sino-US solar market value differences

In late April, a stock company’s Chairman, told reporters that many energy companies listed in the US was almost abandoned by Chinese and American investors, looking at China’s a-share market, the treatment difference. “This will result in delisting listed companies in the United States and back. “Not long ago, PV manufacturers–JA Solar holdings privatization intentions the company Chairman and CEO Mr Jin baofang, spent about $ 414 million. JA did not disclose the plan after the delisting, but a number of analysts say, is expected to kill it in a-shares.

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Character articles

1, solar hero Peng Xiaofeng into Internet Shi Yuzhu “endorsement”

As a serial entrepreneur, Liu Xin, sinovideo into SPI, it was Peng Xiaofeng’s third start, it can be said to be “defeated.” This time, Peng Xiaofeng breath into the photovoltaic industry, and balance the concept of treasure, in the photovoltaic industry to design and launch an Internet based transactions and Internet financial transactions and financial support systems of distributed PV network–the “green energy”. Peng Xiaofeng SPI green treasure in 2014 to complete 5 rounds in a row, the total amounted to more than 300 million US dollars, SPI shareholders in both State-owned enterprises, has similar Shi Yuzhu, Xu jiayin, such powerful entrepreneur Peng Xiaofeng and start-up “endorsement”.

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2, Lv Jinbiao PV “go” break the double siege

On June 3, the Canada border services Agency (CBSA) on Chinese imports of photovoltaic components and chips make final anti-dumping countervailing duty investigation. GCL-poly Lv Jinbiao, Deputy Chief said in an interview, photovoltaic double-reverse, Chinese enterprises should actively go out and set up factories in overseas investment is a better choice.

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I wonder how many PV land policies on farmland use tax?

Polaris solar PV net news: domestic photovoltaic power stations construction in full swing, and policies can be: how much do you know? Some people accidentally fell into the Government’s trap. Is said to have a large PV enterprises in Inner Mongolia for a PV power plant the grass on farmland use tax pay 4800 Yuan an acre a year, estimates that the intestines are regret black ~ ~

First, policies

At present farmland occupation tax basis for the People’s Republic of China interim regulations on the tax on land occupation

According to come into force on January 1, 2008 the People’s Republic of China interim regulations on farmland occupation tax, farmland occupation tax the tax provisions are as follows:

(A) not more than 1 mu of arable land area per capita (based on County units, the same below), for 10 to 50 Yuan per square meter;

(B) more than 1 but not more than 2 acres of cultivated land per capita, for 8 to 40 Yuan per square meter;

(C) the per capita farmland area of more than 2 hectares but not more than 3 acres, was 6 to 30 yuan per square meter;

(D) over 3 acres of cultivated land area per capita, for 5 to 25 Yuan per square meter.

Second, the standard

Of finance and the State administration of taxation, the subsequent enactment of the People’s Republic of China implementing rules of interim regulations on the tax on land occupation, the taxes are clear:

All provinces, autonomous regions and municipalities directly under the average amount of farmland occupation tax tables

People’s Republic of China interim regulations on the tax on land occupation

First in order to make rational use of land resources, strengthen land management and protection of arable land, this Ordinance is enacted.

Arable land referred to in article II of this Ordinance refers to land used for growing crops.

Third of cultivated land occupied by housing or units or individuals engaged in non-agricultural construction, farmland occupation tax taxpayer cultivated land occupation tax shall be paid in accordance with the provisions of this Ordinance.

Units referred to in the preceding paragraph, including State-owned enterprises, collective enterprises, private enterprises, joint-stock enterprises, foreign-invested enterprises, foreign enterprises and other enterprises and institutions, community groups, government agencies, military units and other units referred to individuals, including individual businesses as well as to other individuals.

Article fourth actual occupation of arable land arable land occupation tax to the taxpayer for the tax basis, in accordance with the provisions of the applicable tax once levied.

Fifth tax of farmland occupation tax provides as follows:

(A) not more than 1 mu of arable land area per capita (based on County units, the same below), for 10 to 50 Yuan per square meter;

(B) more than 1 but not more than 2 acres of cultivated land per capita, for 8 to 40 Yuan per square meter;

(C) the per capita farmland area of more than 2 hectares but not more than 3 acres, was 6 to 30 yuan per square meter;

(D) over 3 acres of cultivated land area per capita, for 5 to 25 Yuan per square meter.

Fiscal and tax departments under the State Council in accordance with per capita arable land and economic developments to determine the average of the provinces, autonomous regions and municipalities directly under the tax.

Local applicable taxes, by provinces, autonomous regions and municipalities within the range prescribed in the first paragraph of this article, based on conditions in the region approved. Application of the people’s Governments of provinces, autonomous regions and municipalities tax average shall not be lower than the average tax amount specified in the second paragraph of this article.

Sixth special economic zone, economic and technological development zones and economic developed areas and per capita farmland is less applicable taxes can be increased, but the fifth part shall not exceed a maximum of this Ordinance applicable local taxes provided for in article 50%.

The seventh to occupy basic farmland, applicable taxes should be in the article fifth third paragraph, sixth on the basis of the applicable local tax provided for in article 50%.

The eighth the following situations shall be exempt from tax on land occupation:

(A) cultivated land occupied by military installations;

(B) cultivated land occupied by schools, kindergartens, nursing homes and hospitals.

The ninth railway lines, highways, airport runways, tarmac, ports, waterways loss of arable land, reduced by taxes levied on farmland occupation tax of 2 Yuan per square meter.

According to actual needs, and financial, the competent tax departments under the State Council relevant departments have reported to the State Council for approval, are exempted or reduced as provided for in the preceding paragraph can be cultivated land usage tax.

Tenth cultivated land occupied by rural residents in new housing, in accordance with the applicable local taxes levied on farmland occupation tax.

Rural families of martyrs, disabled war veterans, widows, and old revolutionary bases, minority-inhabited areas and rural residents in outlying and poor regions difficult, under provisions of land new homes there is difficulty in payment of tax on land occupation, located the township (town) people’s Government audit, upon approval by the people’s Governments at the county level, may be exempted or reduced arable land occupation tax.

11th according to the regulations, the eighth, Nineth provision are exempted or reduced farmland occupation tax, taxpayers to change the original uses of the land no longer are exempted or reduced arable land occupation tax shall, in accordance with applicable local taxes to pay tax on land occupation.

12th farmland occupation tax collected by the local tax authorities are responsible for.

Land management in the notified unit or individual handling land clearance, shall notify the land located at the local tax authorities. Permitted to occupy land units or individuals shall be from the date of receipt of the notification in the land administration sector on pay tax on land occupation in the 30th. Land management on farmland occupation tax payment receipts or tax exemption certificates and other relevant documents granting approval of construction land.

13th a taxpayer temporarily loss of arable land, cultivated land occupation tax shall be paid in accordance with the provisions of this Ordinance. Taxpayers approved a temporary occupation of cultivated land within the period of restoration of cultivated land occupied by the status quo, of farmland occupation tax refund has been paid in full.

14th take up woodland, grassland, farmland land, farming water fishery waters and beaches and other agricultural land or engage in other non-agricultural construction, farmland occupation tax is imposed by the provisions of this Ordinance.

Construction services in agriculture production facilities occupy agricultural land provided for in the preceding paragraph, no farmland occupation tax.

15th farmland occupation tax collection and administration in accordance with the People’s Republic of China Law on tax collection and management and the relevant provisions of this Ordinance.

The 16th article of the regulations come into force on January 1, 2008. On April 1, 1987 issued by the State Council of the People’s Republic of China interim regulations on farmland occupation tax abolished at the same time.

People’s Republic of China interim regulations on farmland occupation tax implementation rules

Article in accordance with the People’s Republic of China interim regulations on farmland occupation tax (hereinafter regulations), these rules are formulated.

Referred to in article II regulations building, including the construction of buildings and structures.

Of cultivated land occupied by farmland, no farmland occupation tax.

Article occupied building or in the non-agriculture construction of the garden, as a cultivated farmland occupation tax is imposed by.

Article fourth of cultivated land occupied by upon approval of their applications, taxpayers for farmland construction land of people identified in the approval document; construction of farmland is not indicated in the approval document of land, taxpayers with the applicant.

Unauthorized appropriation of arable land, taxpayers rather than the actual person.

Article fifth fourth of the regulation mentioned in actual occupation of arable land, including authorized and unauthorized occupation of cultivated land occupied by arable land.

Sixth of all provinces, autonomous regions, and municipalities directly under the average amount of farmland occupation tax, in accordance with the rules attached to the provinces, autonomous regions and municipalities directly under the table of the average tax of farmland occupation tax.

County-the applicable taxes, in accordance with the regulations, the by-laws and provincial, autonomous region, municipality directly under the regulations of the people’s Government.

The seventh basic farmland in the seventh article of the Ordinance, means in accordance with the regulations on the protection of basic farmland land within the designated range of basic farmland conservation area.

Article eighth eighth Ordinance exempted military installations, including:

(A) aerial and underground military command, combat engineering;

(B) military airfields, ports and docks;

(C) the barracks and on the training field, the test site;

(D) military base, warehouse;

(E) military communications, reconnaissance, navigation and observation stations and surveying, navigation, navigational signs;

(F) military roads, railway lines, military communications, transmission lines, military transportation, pipelines;

(VII) other direct military use of the facility.

The Nineth eighth Ordinance exempted school, including Administrative Department of education approved the establishment of the people’s Governments above the county level university degree, secondary schools, primary schools, vocational schools and special education schools.

School of cultivated land occupied by commercial premises and staff housing, in accordance with the applicable local taxes paid on farmland occupation tax.

Article eighth tenth Ordinances exempt kindergarten, specific scope limited to the county administrative departments of education registration or filing of kindergarten places devoted to early childhood care and education.

11th Bill article eighth tax-free retirement home, specific scope limited to approved the establishment of special care places for the elderly in the nursing home.

12th the eighth article of the rules require tax-exempt hospitals, specific scope limited to the people’s Governments above the county level in the Administrative Department of public health approved the establishment of the hospital is dedicated to providing health care services, venues and supporting facilities.

Employee housing land in the hospital, according to the applicable local taxes paid on farmland occupation tax.

13th Nineth Ordinance tax cut railway lines, specific scope limited to railway roadbed, bridges, culverts, and in accordance with the provisions of land on both sides of the tunnel.

Of cultivated land occupied by private railways and railway private sidings in accordance with applicable local taxes paid on farmland occupation tax.

14th Nineth Ordinance cuts Highway routes, specific scope limited to approved construction of state highways and provincial roads, county roads and Township Road and village road belonging to rural road project as well as on both sides of ditches or Swales.

Of cultivated land occupied by private vehicles in highway and urban road, in accordance with the applicable local taxes paid on farmland occupation tax.

15th Nineth Ordinance cuts airport runway, apron, specific scope limited to approved construction of civil airport specifically for use in civil aircraft taking off and landing, taxi, parking place.

Port of the Nineth 16th Ordinance stipulates that tax cuts, limited approved construction of ports for ships entering and leaving, dock and passengers, cargo loading and unloading places.

17th the Nineth Ordinance passage of tax cuts, specific scope limited to rivers, streams, lakes, bays for safe navigation in the waters of the channel.

18th the tenth article of the rules requiring tax cuts to rural residents of cultivated land occupied by new houses, refers to the rural residents in approved residence according to the prescribed standards of cultivated land occupied by residential construction.

Approved the relocation of rural residents, the original land back to cultivation, where new housing does not exceed the original land area of cultivated land occupied, no farmland occupation tax; over the original homestead area, on the portion in accordance with the applicable local taxes levied on farmland occupation tax.

19th rural families of the martyrs mentioned in the tenth article of the Ordinance, including rural parents, spouses and children of martyrs.

20th article tenth of the Ordinance mentioned in old revolutionary bases, minority-inhabited areas and rural residents in outlying and poor regions difficult, its standards in accordance with the relevant provisions of the people’s Governments of provinces, autonomous regions and municipalities.

21st 11th under the Ordinance of provisions, taxpayer changes accounting for land use, no longer belongs to the tax exemption or reduction, shall be from the date of change of use in the 30th as changing the use of the actual area of cultivated land occupied and applicable local taxes to pay taxes.

The 22nd Provisional appropriation of arable land referred to in section 13th refers to taxpayers due to the construction project, geological prospecting and other needs, generally not more than 2 years temporary use of arable land and did not build permanent structures.

23rd due to pollution, soil, mining subsidence damage to farmland, mutatis mutandis, the 13th article of the rules provided for temporary occupation of cultivated land, caused by damage to the unit or individual to pay tax on land occupation. Status quo of cultivated land has restored for more than 2 years, taxes will not be refunded.

24th Ordinances mentioned in the 14th article of woodland, including woodland, scrubland, open woodland, into forest land, land, plant nurseries, and does not include settlements within the green forest land, forest land within the railways, roads and land, as well as rivers, ditches, the forest land of the berm.

25th pasture mentioned in the 14th article of the Ordinance, including the natural grass, artificial grass.

26th Ordinance mentioned in the 14th article of irrigation and water conservancy land, including land for farmland irrigation and drainage ditches and the corresponding ancillary facilities.

Breeding waters referred to in article 14th 27th Ordinances, including the formation of artificial or natural rivers for aquaculture water, lake water, the reservoir water, pond water and the corresponding ancillary facilities.

Fishing waters referred to in article 14th Beach 28th Ordinances, including dedicated to cultivation or farmed aquatic animals sea tide dip Strip and beach.

29th and occupation of forest land, pastures, farmland, farming water fishery waters and beaches and other agricultural land or engage in other non-agricultural construction, applied tax applies tax amount due is lower than the local appropriation of arable land, specific taxes in accordance with the regulations of the people’s Governments of provinces, autonomous regions and municipalities.

Article 30th regulations referred to in article 14th production facilities serving agricultural production directly, refers directly to the agricultural production and the construction of buildings and structures. Specific including: store agricultural machines and seed, and seedlings, and wood, agricultural products of warehouse facilities; foster, and production seed, and seedlings of facilities; animal farming facilities; wood set material road, and shipped material road; agricultural research, and test, and model base; wild flora and fauna protection, and Ranger, and forest pest control, and forest fire, and wood quarantine of facilities; designed for agricultural production service of irrigation drainage, and water, and power, and heating, and gas, and communications based facilities; agricultural producers engaged in agricultural production required of accommodation and management facilities And other production facilities serving agricultural production.

31st the approved appropriation of arable land, farmland occupation tax time when the obligation to the taxpayer receives notification of the land management Department to deal with occupation of agricultural land on the day.

Unauthorized appropriation of arable land, farmland occupation tax obligations for taxpayers actual appropriation of arable land on the day.

32nd taxpayer appropriation of arable land or agricultural land, farmland or other local tax on agricultural land.

Article 33rd in all provinces, autonomous regions and municipalities directly under the people’s Government of fiscal and tax departments should use this provinces, autonomous regions and municipalities to develop tax on land occupation specific measures submitted to finance and the State administration of taxation.

34th article of the rules come into effect as of the date.

Schedule:

All provinces, autonomous regions and municipalities directly under the average amount of farmland occupation tax tables

Original title: “the land policy of the PV power station” I wonder how many land use tax?

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World’s largest solar-powered plane tragedy aileron damage one week repair

Polaris solar PV net news: after two months of staying in China, the world’s largest solar-powered aircraft took off Sun power, 2nd of May 31, to Hawaii. If the flight goes well, it will become the world’s first solar-powered aircraft to fly the Pacific. Meanwhile, it will also be the Air planes for the longest, because the voyage will take about 6 days and 5 nights, about 130 hours, is not going to stop and rest in the middle.

But it is a pity, bad weather, Sun power forward because of bad weather, 2nd Japan Nagoya, waiting for the weather to improve after a fresh start.

Tragedy is, Sun power, 2nd in the dock at the Nagoya Airport, the plane was winds, swing was damaged when one of the trailing edge of the wing.

So, Nagoya: airport security measures so badly? Even a solar-powered aircraft to protect you? In fact, Sun power 2nd at each place is set, and logistics personnel will set up a dedicated inflatable hangars for parking.

When the accident took place, Sun power, 2nd hangar was erected in the wings only temporarily protected to avoid sunlight and rain erosion. But unfortunately, a strong wind blowing, protective sleeve swing when I broke my aileron.

Sun power 2nd number of pilots BertrandPiccard said, this is only very minor damage, but it also needs a week to repair.

In addition, even fix the problem wouldn’t be able to take off, will have to see God’s face.

Original title: world’s largest solar-powered plane Japan aileron damage one week repair

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Why United States energy company Yieldco is different from the love and hate?

Polaris solar PV net news: about Yieldco, we already have too much. But you know what? Pregnant Yieldco model United States markets, different companies differ in their attitudes to Yieldco. High profile militant SunEdison, also have to be careful, even on the First Solar+Sunpower of the Yieldco model seems a bit random, what are reasons behind their choice?

Renewable energy projects in China in the last round of easing monetary policy background, did not feel any pressure to investors and developers, not to think of other ways to finance the force. Over the past two years, the financial markets, in particular, bank loans, get harder, renewable energy players to feel the tight capital chain, was forced to branch out to finance the development of new projects. Although monetary policy easing in momentum, but from the perspective of the volume and flow of funds does not meet the developers (especially private) the need for new investment projects.

Was discussed with stakeholders in early 2014 optional way to renewable energy project finance in China, when referred to YieldCo (income-yielding companies, can also be directly yieldco model in one word seems to have now become China’s devotion to the option of renewable energy developers and investors. As one of the project finance model, we might as well check it out before being used in the United States the background and current development trends, so that we can better understand this mode of financing conditions, so as to determine the suitability of renewable energy project financing needs.

Yieldco pattern originated in China, Oh my

If the United States’s income is originated in China, some people will believe it? But at least it can be said that United States first real sense of income is designed for Chinese people and businesses of the company, this should be true.

From the United States point of view, the income is not an emerging pattern, in fact, since 2005, there have been such financing arrangements. At that time, SeaspanCorporation company, based in Hong Kong was the first to use the income structure of the company on the New York Stock Exchange-listed company. SeaspanCorporation is a company founded by the Anhui Gerry Wang, China one of the largest independent container ship leasing and management company, specializing in container ship leasing operations. After its successful listing, number of its ships to keep within a year rose from 10 to 23, enough to power’s great contribution in the development of enterprise of the capital market. In its prospectus, which promised investors returns to the public is paid quarterly dividends per share to $ 0.425 per quarter, which at that time was priced at only US $ 0.23 per share. Such return is based on, the company will be long-term fixed rent leases for all vessels, so as to achieve long-term stable cash flow arising from the lease contract and high utilization rates. Goes public, the company’s first fleet average remaining lease period was 9.1 years, which provides investors with reliable cash flows and expected returns, therefore this early return of the IPO of the company became United States listed cases in history’s largest shipping company, also became the first shipping industry in using the capital dividend based on long term stability of the company. Even though is not applied to the energy industry, but the income the company’s basic structure and framework have been identified, such as dividends on a quarterly basis at present remains the return type using.

The rise of income-yielding companies in the renewable energy industry

Entered 2013 yihou, new energy project of financing faced with huge of capital cost pressure, like tax interests investment, in no plus lever of situation Xia, its capital cost will in 7-10%, plus lever zhihou, will reached 12-18%, other financing way (including ABS,MLP,REIT and debt products) of capital cost in 3-12% Zhijian, to project bonds market for cases, capital cost rarely has below 6% of situation. In this financial environment, new energy developers faced fierce competition in the market, must continue to develop new projects, on the other hand the dilemma facing the cash-strapped.

Project rate of return as a whole (although now used less frequently as the index as the only criterion for investment in renewable energy projects), was basically about 8%. View about 15% of renewable energy projects in overall rates of return, therefore, how to find cheaper financing has become the priority for the developers. Then intermediary institutions (including investment banking and lawyer,) on and wants to up 2005 once with had of this proceeds type company structure, and combines United States can renewable energy of related policy and tax arrangements, for can renewable energy industry of developers design has this applies Yu this industry of proceeds type company structure, and through IPO of form makes more of public can participation to can renewable energy of development and construction process in the, and not only limited to institutions investors. Renewable energy income in 2013, the first company (NRGYield,Inc.) Since listing, for now, United States listing benefits companies in the renewable energy industry a total of 6 (see table below). From the perspective of industry, not only in the renewable energy sector, including electricity, water and other conventional energy power projects, and even include the power transmission project. Mode-financed through an income, the WACC will be between five to. This low-cost financing is the root cause of income by the developers of the company’s rush, and should not be a mere formality following.

Of course, since 2015, there are many companies (including the United States and China) have been or are being tried to use pattern-financed income.

United States case: very casual First Solar+SunPower

In the United States, unlike the SunEdison are keen to benefit companies, is, although FirstSolar, SunPower announced income-a listing plan but FirstSolar management position and project speed, does not seem to benefit companies mode value. FirstSolar, and SunPower in the establishment of joint venture income, after a long period of negotiations the company 8point3EnergyPartnersLP on March 10, 2015 to the United States Securities and Exchange Commission filed a registration file S-1, which is distributed PV projects included in the earnings the company’s initial attempt.

United States case study: high profile and aggressive SunEdison

Compared with SolarCity distributed in photovoltaic mode of financing, income company still needs more research and observation. SunEdision announced on May 7, 2015 to the United States Securities and Exchange Commission filed a registration file S-1, which is the second income company of SunEdison, its first income assets are mainly located in United States territory. Newly formed income company TERRAFORMGLOBAL,INC. main assets in emerging markets, such as China, India, and Malaysia, and South Africa, and Uruguay, and Peru and Brazil, total installed capacity reached 987.8MW, asset types, including wind power, solar energy and hydropower. When SunEdison announced the news, the stock soared that day 13%. SunEdison entered the Chinese market in 2014, and in the past year have done a lot of acquisitions, compared with First Solar’s movements in China a few years ago, SunEdison to high profile and aggressive. They acquired assets, including operating or slated to operate wind, solar and hydro-electric projects. It is easy to see, the intent is for profit companies listed have good assets, as well as income prepare company acquiring more projects in the future.

United States case: Sol-Wind Renewable Power (transforms to the MLP)

In terms of returns above the company architecture design still followed the traditional pattern, mainly through the company’s existing and future assets and depreciation to avoid double taxation of federal, and made no attempt to transform to MLP. Has one of the more interesting case is Sol-Wind Renewable Power,LP the income the company’s IPO experience, Sol-Wind S-1 registration forms were submitted to the SEC in late December 2014, but because of the potential investors is not clear, even more important is the design of its trading is more of an MLP to enable investors to have a lot of worries about, so in February 2015, the Sol-Wind was forced to postpone the IPO to raise $ 100 million funding plan.

China market: ready, need to be careful

In China, many renewable energy companies are now considering using the income the company’s model for financing, such as Yingli, GCL, and Astor are also eager wanted to Excel at a benefits company. But before you use this mode, in addition to taking into account its assets as well as other factors, be sure to compare to other ways of financing costs. China gateway to the rate cut case, income company model is still available, you need to choose carefully, not because this pattern itself is relatively new, and choose.

China and the difference is big, cautiously optimistic about earnings the company’s future

Given the promise of steady income to investors, in order to maintain sustainable and stable return on cash flow, income-yielding companies must constantly getting new items, and only in this way will be able to realize the purpose of single tax, but also to maintain investor interest in this type of company. In a sense, income the company is in the process of industry or market in a way you can choose a mode of financing, its stable growth is the key. We also need to pay attention to renewable energy, are subject to the Government subsidies policy, this instability also increases the risk of investors. In addition, the United States how many investors really understand China’s renewable energy regulatory policies (including flagging system, electricity, Internet, land prices, subsidies and tax issues)? TERRAFORM GLOBAL,INC. wrote in the prospectus, China’s tariff increase of 2%/year, and room for future growth is still very large. Faced with China’s overall economic situation, and in 2010, compared with the average wage in China, China’s electricity prices are 4 times more than doubled in developed countries, recent growth may face certain difficulties. Although change was pinned electricity price increases, but that doesn’t mean the sole motivation. In this prospectus, China signed projects with PPA project as described, and from this point of view, China’s power purchase agreements with United States markets differ from the PPA in even wider. As a new financing model for renewable energy industry, which is accompanied by some other higher financing costs and other return on investments arising from the lower, markets are cyclical, can also deduce another opposite curve, income also need time to test the vitality of the company.

Original title: why United States energy company Yieldco is different from the love and hate?

“Shinin 2nd” due to bad weather, “crash landing” Japan Nagoya

Polaris solar PV net news: according to foreign media reports, trying to refresh the record for solar-powered aircraft flight “Sun power, second” diverted because of bad weather in Japan, Nagoya.

The plane left China for about 36 hours ago at Nanjing Lukou International Airport, originally scheduled for 6th consecutive six-night flights to United States, Hawaii. On June 1, the plane was caught in bad weather and in the Japan Sea and circled, the team decided to let the plane eventually landed.

On March 9, the human first solar-powered flight around the “Sun power 2nd” solar-powered aircraft from the U.A.E. Abu Dhabi took off and began voyage.

“Shinin second” plan flying over the Earth’s continents and across the Pacific Ocean and the Atlantic Ocean. Across two oceans will be a major test for solar-powered aircraft.

Original title: “sunlight powered second” due to bad weather, “crash landing” Japan Nagoya