China’s renewable energy investments to top $439 billion

China’s total investment in renewable energy is expected to top RMB3 trillion (US$439.11 billion) before 2020, making it a new profit center for the country, a report from the State Information Center (SIC) said. SIC predicted that total installed capacity of nuclear power, wind power, and solar power will total 80,000 megawatts (MW), 150,000MW, and 1,800MW, respectively, in the next 10 years. SIC recommended measures to further spur growth in the renewable energy sector, including establishing a special new energy research fund, as well as preferential policies, such as financial support, tax schemes and price allowances, as well as cost and risk allocation mechanism, for new domestic energy projects. (July 3, 2009)