• Monday, 01 June 2009
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 The Chinese government is putting the finishing touches to a $440bn (£272bn) incentive package designed to boost use of solar and wind power in the country.
According to various reports, new incentives for solar farms and
rooftop panels are to be introduced, possibly as early as next month,
while government funding will also be made available for large-scale
wind farm projects.
Precise details of the new incentive schemes are yet to be released,
but the investment is expected to come from China's $586bn economic
stimulus package, which was announced last year to offset the impact of
the global financial downturn.
The investment will be focused on increasing China's renewable energy
capacity, excluding hydropower, to account for six per cent of its
overall power supply by 2020. Despite rapidly emerging as a key player
in the global clean tech market, currently just 1.5 per cent of China's
energy comes from renewable sources.
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Source: Business Green
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