China to offer subsidies to boost photovoltaic market
China has said it is considering investing more than 3 trillion yuan (US$440 billion) in the renewable energy sector by 2020, although detailed plans have yet to be fleshed out.
"Fiscal subsidies will be offered to speed up the launch of the domestic photovoltaic market," the ministry said in a statement posted on its website www.mof.gov.cn.
It did not elaborate.
The statement also cited Zhang Shaochun, a vice-finance minister, as telling an internal working meeting that China would adapt a mix of policies, especially fiscal and tax ones, to promote new energy development and help reduce pollution.
"We should concentrate our efforts to support new energy and energy-saving industry in order to take hold of the commanding ground of the new emerging industries," he was quoted as saying.
China will offer subsidies to cars using new energy in 13 cities, including Beijing and Shanghai, according to the statement.
It also said that China would build more large-scale wind-power bases and offer awards to areas that work well in eliminating outdated industrial capacities in 13 sectors such as power and steel.
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LONDON - National Grid has decided not to activate a scheme on Tuesday to help the UK avoid power cuts after being poised to do so.
It would have seen some households offered discounts on their electricity bills if they cut peak-time use.
National Grid had been ready to trigger the scheme following a warning that Britain's energy supplies were looking tighter than usual this week.
However, it decided that the measure was not required.
Alerts are sent out automatically when expected supplies drop below a certain level. But they do not mean that blackouts are likely, or that the situation is critical.
National Grid…
