China has announced plans to offer
major new subsidies for solar power generation, a sector it intends to
grow at a rate of 1 GW annually after 2012. According to the Chinese
Finance Ministry, the national government will create 13 renewable
energy industry zones and provide a 50 percent subsidy for critical
equipment installed in pilot solar energy projects.
All told, and in concert with other measures, China expects to increase
its installed capacity of solar generation from 2,000 megawatts by 2011
and to 20,000 megawatts by 2020. Chinese officials previously said they
want at least 15 percent of the nation’s power to come from renewable
sources by then.