CHINA INVESTS US$34.6 BLN IN RENEWABLE ENERGY INDUSTRY IN 2009

Jul 30, 2010 - AsiaPulse - energycentral.com

China has invested US$34.6 billion in renewable energy industry in 2009, making the country the biggest investor in the industry in the world, said Li Junfeng, deputy director of the Energy Research Institute of the National Development and Reform Commission.

China's installed capacity of wind power is expected to hit 40 million kW in 2010, and 100 million kW by 2015, said Li Junfeng.

As for solar power industry, China is facing a great challenge in terms of the big disparity between the output capacity and the actual amount of solar power connected to the power grid. In 2009, China's solar power output capacity reached 4000 MW, but only 200 MW were connected to the power grid.

Li noted that only when the cost of solar power generation decreases to 1.5-2 yuan/kWh after 2015 will China develop solar power generation on a large scale.