China’s energy regulator indicated the country will speed up efforts to ensure its wind and solar power can compete without subsidies and achieve “grid price parity” with traditional energy sources. China is encouraging renewable manufacturers and developers to drive down costs through technological innovations and economies of scale in order to phase out power generation subsidies, which have become an increasing burden on the state. China owes about 120 billion yuan ($17.5 billion) in subsidies to solar plants despite cutting its subsidies to solar power and capping new capacity at 30 gigawatts this year—down from ... (full story)