I. Introduction
2019 is a year of parallel challenges and opportunities for photovoltaic and wind power professions. The renewable power generation industry has always been a policy sensitive industry, and photovoltaic and wind power are highly dependent on the subsidy policy. In the trend of subsidization declining and encouraging parity, photovoltaic and wind power enterprises will continue to face challenges in the profit space, but a series of supporting policies issued by the state in 2019 also let us see the dawn of career behind the severe challenges. This paper will sort out and introduce the opportunities brought by relevant policies in 2019.
II. The low price and low price projects are ready to be launched from the 531 new deal in 2018. The actual challenges faced by the photovoltaic and wind power professions are constantly added: the scale of new project subsidies is limited, competitive equipment subsidies are introduced, the benchmark on grid price of photovoltaic projects is reduced, and the on grid price of wind power projects is changed from the benchmark price to the guiding price, etc. But we also see that on the other side of these seemingly unfriendly policies to investors, it is the country's successive encouraging measures for low price and low price Internet access projects.
On January 7, 2019, the national development and Reform Commission and the State Power Bureau issued the notice on actively promoting the work related to the grid access of wind power and photovoltaic power generation without subsidies (fgdy [2019] No. 19), which provides clear policy support for the indicators, land prices and other issues concerned by investors in the development and construction of photovoltaic and wind power projects. For example, it is clearly pointed out that parity and low price projects will not be constrained by annual construction scale, and parity and low price projects should also be supported in terms of land use and land related charges. Parity and low price projects should be given priority in terms of power generation and full guaranteed purchase, and fixed price purchase policy should be implemented to create financial support for parity and low price projects. Methods and so on.
On May 28, 2019, the State Power Bureau issued the notice on matters related to the construction of wind power and photovoltaic power generation projects in 2019 (Guo Neng FA Xin Neng [2019] No. 49), which once again emphasized the priority of promoting the construction of parity grid access projects. In addition to the priority of ensuring the power delivery and consumption of parity grid access projects, it also clearly proposed that all provincial power authorities should optimize the investment environment for investors. Alleviate excessive burden. Its annex "construction operation plan for wind power projects in 2019" clearly points out that, with regard to the existing wind power projects, all kinds of wind power projects within the approved validity period are encouraged to voluntarily turn into parity grid projects, and the supporting policies related to parity grid projects are implemented, such as giving priority to ensuring the progress arrangement and consumption of the construction of supporting power transmission projects; with regard to the new wind power projects, the Fair price on grid wind power projects can only be equipped to supply the power grid consumption with the highest priority.
III. establish a mechanism to ensure the consumption. On May 10, 2015, the national development and Reform Commission and the State Power Bureau jointly issued the notice on establishing and improving the mechanism to ensure the consumption of renewable power (FGD [2019] No. 807) (referred to as "the mechanism"), which provides the corresponding implementation mechanism for the problem of renewable power consumption. The long-awaited quota system of renewable power in the career has finally been put into effect. In the past, although the renewable power law stipulated that China should implement the principle of full guaranteed purchase of renewable power generation, the problem of photovoltaic and wind power consumption has not been well dealt with due to the lack of supporting standards and other issues. However, the introduction of the "consumption guarantee mechanism" has provided the principle guarantee for dealing with the long-standing issue of transmission and consumption. Under the condition that the cost of electric power is hard to decline rapidly, because of the policy of subsidizing the decline, the profit space of photovoltaic and wind power enterprises may be compressed. However, under the principle of "consumption guarantee mechanism", the market share of photovoltaic and wind power enterprises kneaded by traditional power generation enterprises such as thermal power enterprises will be improved to a large extent, and the consumption problem will be solved, which will lead to power rationing. The situation has been improved to promote photovoltaic and wind power enterprises to change their income from relying on subsidies to relying on the market, which is conducive to the transformation of the power market and the sustainable development of photovoltaic and wind power industries.
The implementation of the relevant standards of the absorption guarantee mechanism needs to be further announced by the provincial power authorities. However, the absorption guarantee mechanism also provides a certain degree of assurance for the implementation of the relevant standards through the methods of clear responsibility subjects and setting rewards and punishments. For example, it requires that the minimum consumption responsibility weight and incentive consumption responsibility weight should be set with the province as the unit, and the implementation responsibility of the clear consumption responsibility weight should be undertaken by the provincial power competent department, and the responsibility should be jointly undertaken by the power selling enterprise and the power user. It will become the responsibility of the market subject to implement the responsibility of elimination. The market subject who fails to implement the responsibility of elimination will be required to rectify and those who fail to rectify as scheduled will also be punished. In addition, preferential treatment will be given to those areas that have over fulfilled their responsibilities.
IV. the notice on matters related to the construction of wind power and photovoltaic power generation projects in 2019 mentioned before financing support clearly points out that it is necessary to innovate financial support methods for affordable and low-cost projects and reasonably arrange the scale of credit funds, which will help enterprises with affordable and low-cost projects reduce their financing capital. In addition, in terms of issuing property backed securities ("ABS"), CSRC issued the "Q & A on property securitization supervision" (III) "on April 19, 2019. Q & A (3) although there is a restriction on the area of offering future operating income property securitization products, theIV. the notice on matters related to the construction of wind power and photovoltaic power generation projects in 2019 mentioned before financing support clearly points out that it is necessary to innovate financial support methods for affordable and low-cost projects and reasonably arrange the scale of credit funds, which will help enterprises with affordable and low-cost projects reduce their financing capital. In addition, in terms of issuing property backed securities ("ABS"), CSRC issued the "Q & A on property securitization supervision" (III) "on April 19, 2019. Q & A (3) although the scope of the promised issuance of future operating income type property securitization products is limited, it is clear that the future operating income type property securitization products issued by electric power industry are within the scope of the clearly promised issuance. In other words, Q & A (3) is the real name and support basis for the issuance of ABS based on the power charge right. The signal released by this action will help power generation enterprises to issue ABS in the future.
V. the year of conclusion is a year for the state to strengthen the promotion of subsidization and affordable access to the Internet. In the short term, it will bring pain to the professional investors of photovoltaic and wind power, but in the long term, it is beneficial for the career to continue and accelerate the transformation of power structure, and complete the high-quality development of wind power and photovoltaic career. Although the policy change has brought challenges to the whole career, the general direction of the country's encouragement of photovoltaic and wind power occupational health has not changed. If investors can keep up with the pace of reform, they can still rely on the policy dividend to complete their own development.
