London (CNN Business)Solar energy in hundreds of Chinese cities is now cheaper than electricity supplied by the national grid, and it can even compete with coal-fired power in 75 of them, a new study has found.
Some 344 Chinese cities were found to have solar systems producing energy at lower prices than the grid, without any subsidies, according to the research published in the journal Nature Energy. That could encourage further investment in renewable energy, according to the authors.
China has made huge progress in developing solar projects and pledged to invest 2.5 trillion yuan ($367 billion) in renewable power generation — solar, wind, hydro and nuclear — from 2017-2020.
China is investing heavily in renewable energy.