BEIJING, June 2 (Xinhua) -- China has released new rules on investment and subsidies for photovoltaic (PV) installations.

The National Development and Reform Commission, Ministry of Finance and the National Energy Administration have announced that there are no plans for common PV projects this year, but for new distributed PV projects, there will be a quota of around 10 million kilowatts.

China cut the national feed-in-tariff by 0.05 yuan (about 0.008 U.S. dollar) per kilowatt-hour at the beginning of June, but there was no change to the subsidy for county-level poverty alleviation PV projects.

China is taking the lead in PV development globally, with an internationally competitive and complete industrial chain.

By the end of 2020, renewable energy will supply 1.9 trillion kilowatt-hours of electricity, 27 percent of total power generation, according to the government's 2016-2020 plan for renewable energy.