China’s heavy investment in solarenergy projects could not only make the country a world leader when itcomes to solar power, but it could also deliver some sunshine to ETFsthat track the sector.
When it comes to alternative energy, China has strategies that the United Sates could take a few cues from. Jeff Wolfe for CleanTechnica reportsthat China has signed 2 gigawatts (that’s 2000 megawatts) worth ofprojects with Suntech. For comparison’s sake, the total U.S. market is350 megawatts.
China has not only become the hub to find the necessary products for solar production, they are also being sought after to supply the financing for installation in the United States. The engine for job creation in the United States may well be Chinese bank project funding.
Meanwhile,California has set the bar for solar panel installations, with around50,000 to date, an environmental research group said. California nowhas the capacity of more than 500 megawatts of solar power at peakperiods in the early afternoon – the same as a major power plant, reports Felicity Barringer for The New York Times.
Tocontinue this growth, certain cities are offering incentives andfinancing for rooftop solar panel installation and long-term statewiderebates are cropping up to encourage the use of these panels. The growth outlook is sunny, however, as solar energy accounts for one-quarter of 1% of the state’s total energy capacity.