Subsidies for Solar Energy Now Official Chinese Policy

China's Ministry of Finance makes solar subsidy official. It will subsidize 50% of the upfront costs for grid connected solar systems (the bulk of demand) and 70% for off-grid. They point to a 500 MW Floor for the next 2 or 3 yrs - and no cap is included. (Everybody has been waiting to see what the cap would be.)

For those who want the full Chinese version, here you go.

No kidding. Now I wonder which country built so much polysilicon capacity that spot prices have gone from $300 to $50 in short order? Looks like GCL will get their IPO done now..... yet more evidence that when it comes to bailouts, Obama ain't got nothing on Hu Jintao.

Comments

[Zenfar]

More info on GCL please?

2009 Jul 21 02:45 PM

[Nemo Incognito]

www.gclsolarenergy.com...

2009 Jul 22 02:17 AM

[Chad Brown]

GCL is China-based producer of polysilicon that had filed for an IPO but pulled it.

2009 Jul 22 07:41 AM

[chrisrbrown]

the link for the full Chinese version isn't working for me. Is it just my computer?

2009 Jul 22 08:34 AM

[Gregman2]

Not news. Especially if you've been travelling to China over the past 5 years.

2009 Jul 22 11:42 AM

[Fred W]

Exactly. This was clearly going to happen despite the majority of U.S. analysts missing it completely. Even the "brilliant" VC guys missed it--otherwise they would be pouring $ into companies that simply have NO chance to succeed (the deck is stacked and China is the dealer).


On Jul 22 11:42 AM Gregman2 wrote:

> Not news. Especially if you've been travelling to China over the
> past 5 years.

2009 Jul 22 12:03 PM

[Ben Gee]

China, the most polluted major economy in the world has no option but to invest in clean energy at all costs. Every country should work together to reduce the cost of clean energy. Then, we will have a cleaner world.

2009 Jul 23 10:27 AM

[MekhongKurt]

If you had asked me when I lived in China in the 80's and 90's if I would have ever dreamed the government there could be so forward looking on much of ANYthing, I would have said, "No way!!!"

Whatever their motives, they sure have proved me wrong.

2009 Aug 08 08:17 PM