On July 26, Hangzhou rolled out the policy to support the development of green energy industries, such as energy storage, photovoltaic power, wind electricity, hydrogen energy, and other emerging energy, contributing to the global green and low-carbon development.

The policy points out that, Hangzhou gives the financial incentive for annual sales revenue growth to the enterprises that produce green energy, with each additional 10 million yuan getting a 500,000 yuan incentive.

In order to encourage green energy enterprises to increase capital and expand production, Hangzhou offers the enterprises at most 1% annual interest rate subsidy according to the loan amount.

Hangzhou also urges the enterprises to promote the application of green energy equipment, and gives the maximum reward of 2,000,000 yuan to the enterprises which launch the energy conservation & reconstruction and new energy projects.