Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

China raises solar power targets

|Includes: CSUN, DQ, HQCL, JASO, JKS, LDK, SOL, PS Solar Portfl Shs (TAN), TSL, YGE

Reuters is reporting a massive increase in solar power targets for China.  The figures quoted are quite important: An additional 10 GW by 2015 and an additional 30 GW by 2020.

By the end of 2010, China’s total installation capacity of nuclear power reached 10 GW, with another 31 GW capacity under construction, the world’s largest. Reports following the Fukushima disaster, quoting Wei Shaofeng, deputy director of the China Electricity Council, suggested that China was likely to reduce its 2020 development target for its nuclear-power capacity by 10 GW; The same amount as the increase in solar.

These changes more than make up for target reductions in Italy, and suggest a particularly strong future for the Chinese Solar industry.  Guggenheim Solar ETF [TAN] is up +0.87% on the news, with Chinese solar stocks generally much higher.