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China to Boost Solar Power Goal 67% as Smog Envelopes Beijing

Jan 30, 2013
Source: 
(Bloomberg)

China plans to increase its goal for solar-power installations in 2015 by 67 percent to reduce reliance on fossil fuels blamed for greenhouse gases and as smog in Beijing reached record hazardous levels this month.

The world’s biggest emitter of carbon-dioxide plans to raise the solar target to 35 gigawatts by 2015 from 21 gigawatts set last year, boosting demand for manufactures that suffer from slowing sales in Europe, Shi Dinghuan, the counselor of China’s State Council and the president of Chinese Renewable Energy Society, said today by phone.

“We’ve got more pressure to save energy and reduce emissions as smog worsens due to pollution,” he said. China will use renewable energy to cut coal consumption and support the domestic industry amid U.S. and Europe anti-dumping charges against Chinese solar products, Shi said.

The increase in solar installations first appeared in the Economic Observer today. Shares of solar-device maker China Singyes Solar Technologies Holdings Ltd. (750) rose 2.1 percent in Hong Kong. The new target would increase solar power installations by more than five-fold from 6.5 gigawatts of capacity as of the end of last year, according to Bloomberg New Energy Finance data.