China and Ireland announced strong incentives for renewable energy last week. The Chinese government at the end of last week announced an aggressive subsidy for solar installations in an effort to boost the country's solar sector, which has stalled in recent months.
The subsidy plan provides 20 yuan (about US$2.94) per watt for solar photovoltaic installations greater than 50 kilowatts. Analysts say the subsidy would cover roughly half of the cost of solar installations at current prices. Shares of solar stocks rose steeply across the board following the news, despite the fact that the details of the subsidy are unclear. Reports differ as to whether or not the subsidy applies to only building integrated photovoltaic (BIPV) or includes rooftop solar installations as well. BIPV is generally for new construction only, using roofing and window materials that contain photovoltaic cells. Analysts also expect the Chinese government to announce a relatively low total capacity cap for the subsidy.
In a separate announcement, China's Ministry of Science and Technology said it plans to invest RMB 10 billion to RMB 20 billion (US$1.5 billion to US$3 billion) on cleantech demonstration projects. Officials said 60 projects would be chosen in top polluting industries such as petrochemicals, iron and steel, building materials, textiles, automobiles, and power generation.
Projects are meant to test technology for emissions and water use reductions for further rollout across the country.
Ireland Feed-in Tariff
Ireland announced a long-term feed-in tariff program for renewable energy that officials hope will drive quick investment in clean energy projects and job creation. Irish Energy Minister Eamon Ryan announced a tariff of EUR 0.19 ($0.26) per kilowatt hour; however it is only available for the first 4,000 projects registered over the next three years. Ireland, which imports roughly 90% of its energy requirements, plans to receive 33% of its electricity from renewables by 2020. The feed-in tariff applies to wind, solar, hydro and combined heat-and-power projects. In February, the country's energy and transport ministers said they want 10% of the nation's vehicles to be electric by 2020.
Ireland announced a long-term feed-in tariff program for renewable energy that officials hope will drive quick investment in clean energy projects and job creation. Irish Energy Minister Eamon Ryan announced a tariff of EUR 0.19 ($0.26) per kilowatt hour; however it is only available for the first 4,000 projects registered over the next three years. Ireland, which imports roughly 90% of its energy requirements, plans to receive 33% of its electricity from renewables by 2020. The feed-in tariff applies to wind, solar, hydro and combined heat-and-power projects. In February, the country's energy and transport ministers said they want 10% of the nation's vehicles to be electric by 2020.
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