Dec 22 2010
The government of China has announced the increase in quantum of subsidies for solar energy installation. The subsidies are introduced to increase the domestic solar installations under its Golden Sun Program.
The country started the program last year to provide subsidies for solar projects in order to advance the growth of renewable energy by reducing various costs and to make certain about the supply of electric power to places with partial grid access.
According to Zheng Fangneng, who holds the position of director of the energy and transport division, in the Ministry of Science and Technology of China, the country has earmarked around US$451 million for granting subsidies. The subsidies, which have seen a marked increase of 50% when compared to last year, will be utilized to support the solar exhibition projects under the program. Zheng said that though the country has given approval for around 201 MW projects under the Golden-Sun program last year, some of the projects failed and he did not elaborate the reasons for the failure.
Under the current year program, the Ministry of Finance has selected projects worth 272 MW for granting subsidies. The sanctions were made with a rider to the provinces that the further grants for the projects will be made only on completion of 70% of the projects. The 70% completion target is introduced to drive the local governments to coordinate in the implementation of the projects.