The Green Technocrat

Yesterday China announced that they are working on a stimulus plan that they hope will spur development in their renewable energy industry.  While it isn’t exactly clear what the stimulus will entail, it seems likely that it will involve providing large subsidies to solar and wind energy producers.  The mere announcement of the stimulus caused stock prices of chinese solar and wind companies to skyrocket.  The country’s largest manufacturer of wind turbines saw their stock increase by 10% following the announcement and similar increases were noted by the country’s solar industry.

China has publicly stated that their goal is to boost usage of renewable energy to 10 percent of total energy consumption by 2010.  Currently China, the world’s second-biggest consumer of energy, derives 80 percent of its electricity from burning coal.

Via: Treehugger