China to boost use of solar power
April 28, 2011 Category Alternative energy, Environment
China is likely to have 10 gigawatt (GW) of solar power capacity by 2015 from the current 1 GW, doubling its existing target amid rising doubts about the safety ofpower. The country may double its target for solar power capacity to 10 GW in 2015 from the 5 GW originally planned. China is expected to announce a new five-year target for the solar industry soon. China consolidated its position as the No 1 country in clean-energy investment in 2010, with USD54.4 billion flowing into the sector, up 39% from the 2009 level, according to a report by the U.S.-based Pew Charitable Trusts, an independent, non-profit organization. In 2009, China overtook the United States as the No 1 nation for installed clean-energy capacity. According to the latest report, ho’s Winning the Clean Energy Race, China led the world in asset financing, with USD47.3 billion in private investments directed toward installation of clean-energy generation capacity. The solar power sector attracted 6.3% of the total investment in clean energy last year. China’s installation of less than 1 GW of solar energy capacity demonstrates that most of its production is for the export market. In contrast, 17 GW of wind energy was installed in China in 2010, helping the nation move quickly toward its 2020 target for installing 150 GW of wind energy, the report said. Renewable-energy capacity reached 103 GW in China. “The new target could be a relief for China’s overcapacity photovoltaic (PV) industry,” said Li Shengman, Industry Analyst at China Investment Consulting. The policy could push up the price of polysilicon, a raw material for making solar panels, passing on more pressure to the down-stream manufacturers, he noted. China is home to the world’s top solar makers, including Suntech Power Holdings and Trina Solar, all of whom have focused on the overseas markets while expecting a domestic market take-off, the China Daily reports.
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