China may have amassed a debt pile of as much as $42 billion in renewable energy subsides that have still gone unpaid to solar and wind power capacity developers, Bloomberg reports, citing a BOCI Research analyst, Tony Fei. “Without structural change to address the issue, the subsidy receivables in the whole industry would continue to grow and drag companies’ balance sheets and investment capabilities,” Fei said in a note earlier this month. China announced last year that it would cut the size of its clean energy subsidies for 2020 to $806.5 million from an earlier plan for $1.15 billion. The departure from generous state support for renewable energy came after the subsidy bill began swelling to an unacceptable size as companies rushed to add solar and wind farms. Because of this rush, in 2017, renewable subsidies hit US$14.21 billion (100 billion yuan), and the government had still not paid […]