Bringing Some Sunshine To China’s Solar Power Industry

The global solar industry is going through tough times. Excess capacity has caused solar-panel prices to plummet. Chinese solar-panel manufacturers face double trouble because their exports are also under anti-dumping investigations in the EU and the U.S. So Beijing is giving the domestic industry a boost to look inwards.

A report in the China Securities Journal says the National Energy Administration has told all provinces to come up with pilot schemes for local electricity generation using solar power. Plans are due by October 15, implementation by 2015.  Beijing, Shanghai and Tianjin have been told to be in the vanguard. Putting the banks’ money where the policymakers’ mouths are, the China Development Bank is to provide financial support through loans to the top dozen solar companies.