Monday, May 9, 2011

China Doubles Down On Solar: 50,000 Megawatts

China now gets 70% of its electricity from coal, is building an incredible 27 nuclear plants, drilled its first horizontal shale well in April, and will build 50,000 megawatts of solar by 2020.  China just doubled its previous goal of 25,000 megawatts of solar by 2020. Totally amazing.

China today has less than 1,000 megawatts of solar operating, considerably less than the USA total of more than 2,000 megawatts.  China's interim milestone, however, is 10,000 megawatts by 2015.  The USA will also have about 10,000 megawatts of solar by 2015.

By 2015, total installed solar costs will be likely at $2 per watt, and China will engage in a massive national solar construction boom to reach 50,000 megawatts.

China sees solar as a strategic industry that can supply clean energy to lessen its horrendous air and water pollution plus provide millions of jobs.  Employment and development remain the top priorities of the government in order to insure social stability.

Supplying 50,000 megawatts of solar within China and probably more than that around the world will employ millions and be a transformative energy revolution.

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