Subsidies play a key role in renewables project development in China, and for years have placed a major financial burden on the Renewable Energy Development Fund managed by China’s central government. By the end of 2018, the fund had already accumulated a deficit of over RMB 100 billion ($14.5 billion). China wants to reach its wind and solar power grid parity targets by 2020, so that electricity created by these sources can be sold to the grid at the same price as coal-fired power.