By Bloomberg News - Jul 20, 2012 5:37 PM GMT+0530
The Chinese government said it will accelerate the pace of solar power installations after 2015, part of a program including funds from the state to cap carbon emissions while satisfying the nation’s demand for electricity.
The State Council said it aims to boost solar power capacity to 50 gigawatts in 2020 from 21 gigawatts targeted for 2015. About 3.6 gigawatts are installed now, according to Bloomberg New Energy Finance data. The government will promote private investment in the industries and set up “special” funds for research, the council said.
The world’s biggest producer of carbon dioxide from fossil fuel burning said it aims to derive 4.5 percent of its energy from low-carbon sources and pare at least 400 million tons of CO2 a year by 2015. Last year about 0.6 percent of its energy came from renewable, according to figures from BP Plc. (BP/)
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