风电增值税新规发布，陆上风电迎来“成人礼”

Core Viewpoint - The withdrawal of tax incentives is not indicative of a downturn in the wind power industry, but rather a sign of its maturation and transition to a more sustainable model [1][4]. Policy Adjustment Timing - The adjustment of tax policies is timely, reflecting the industry's growth and the reduced need for government support [2][4]. Industry Development - The wind power sector in China has made significant progress, achieving commercialization and scalability, particularly in onshore wind energy, which can now compete with traditional energy sources [4][9]. Differentiated Policy Approach - The new policy demonstrates precision by removing support for onshore wind while continuing to support offshore wind, addressing both carbon neutrality goals and energy security [9][11]. Offshore Wind Power - Offshore wind energy is crucial for clean energy development, facing higher costs and technical challenges, thus requiring ongoing policy support to ensure its growth [9][11]. Short-term Pain vs Long-term Gain - In the short term, the policy change may lead to financial strain for some companies, as the VAT refund constitutes about 10% of net profits for representative firms [15]. However, it will accelerate industry consolidation, favoring companies with technological advantages [15]. Future Tax Policy Outlook - The recent tax policy adjustment is just the beginning, with future regulations expected to become more standardized and equitable, ultimately phasing out offshore wind tax incentives as well [18]. This reflects an improvement in national governance capabilities and signals a new starting point for high-quality industry development [18].