Stock Prices Soar: Chinese Government to Subsidise Solar Power

March 29th, 2009 · No Comments · Main Content

China currently has 16% renewable energy. They want to grow that to 23% by 2020.

In order to speed up this program, they are giving a subsidy to residential scale solar installations. This ’solar roofs program’ subsidy has caused up to a 47% surge in various solar power stocks.

Right now, China is the world’s leading greenhouse gas emitter. This makes their government’s commitment to green energy even more important for our climate’s future.

clipped from www.bloomberg.com

The government will offer this year 20 yuan ($2.93) per
watt for solar projects with generating capacity of at least 50
kilowatts, the Ministry of Finance said in a statement posted
today on its Web site.

“We believe meaningful upside potential exists if
government support for domestic solar sector continues,”
Barclays Plc analyst Vishal Shah wrote in a note to clients.

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