China to offer subsidies to boost photovoltaic market

subscribe

China will offer government subsidies to enhance the development of the domestic photovoltaic market, in a move to help China tap more clean and new energy, the Finance Ministry said.

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said that China would build more large-scale wind-power bases and offer awards to areas that work well in eliminating outdated industrial capacities in 13 sectors such as power and steel.

Related News

hospital ICU

Beating Covid Is All About Electricity

NEW YORK - Robert Bryce, Contributor

During her three-year career as a registered nurse, my friend, C., has cared for tuberculosis patients as well as ones with severe respiratory problems. She’s now caring for COVID-19 patients at a hospital in Ventura County, California. Is she scared about catching the virus? “No,” she replied during a phone call on Thursday. “I’m pretty unflappable.”

What would scare her? She quickly replied, “a power outage.” About a year ago, while working in Oregon, the hospital she was working in lost power for about 45 minutes. “It was terrifying,” she said. 

C., who wasn’t authorized by her…

READ MORE
power lines

Energy prices trigger EU inflation, poor worst hit

READ MORE

ehrc logo

Government of Canada Invests in the Future of Work in Today's Rapidly Changing Electricity Sector

READ MORE

lineman rescues car

Ameren, Safe Electricity urge safety near downed lines

READ MORE

themoelectric

Cheap material converts heat to electricity

READ MORE