CHENGDU, Dec. 28 (NBD) -- Benchmark on-grid prices for PV projects will be lowered next year, while price reduction for onshore wind power projects are expected in 2018.

The National Development and Reform Commission has announced a plan to adjust benchmark on-grid tariffs for PV and onshore wind power projects on an annual basis in accordance with cost changes. 

Following the price falling, subsidies for PV power stations will likely fall by roughly 4.5 billion yuan (about 647.5 million US dollars) annually, while those for onshore wind farms will drop by around 1.5 billion yuan (about 215.8 million US dollars) per year.