China has pinpointed renewables as one of seven “strategic” industries in which it will sink 10trn yuan ($1.5trn) over the next five years, in a bid to transform its economy from the world’s supplier of low-value goods to a high-tech powerhouse.
As part of the announcement, Beijing says it will establish 13 “industry zones” for solar energy, cover half the cost of a new class of utility-scale solar plants and offer a feed-in tariff of up to 6 yuan per watt, with the aim of creating a 1GW domestic market annually by 2013.
Though
