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China to Pay $1.4 Billion in Subsidies for Renewable Energy

Bloomberg -- China, the world’s biggest carbon emitter, will pay 8.6 billion yuan ($1.4 billion) in subsidies for electricity generated from renewable power this year.

Regional financial authorities will allocate the funds to provincial and independent power-grid companies, according to a Ministry of Finance statement posted on the central government’s website. The government will provide 5.9 billion yuan for wind- power and 2 billion yuan for biomass-energy projects, with the rest subsidizing solar farms.

The move will bolster cash flows at renewable-energy developers as the grid companies are required to use the capital to pay the fixed and above-market tariffs of clean electricity output they purchased in 2012.

The world’s second-biggest economy is deploying energy generated from the sun, wind


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Submitted Dec 19, 2012 By: angel4me
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: China to Pay $1.4 Billion in Subsidies for Renewable Energy Back to Topics
REPLIES (newest first) Post a Reply
virostek
Veteran Author Virginia

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Message Posted: Dec 20, 2012 7:24:13 AM

Wow.
virostek
Veteran Author Virginia

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Message Posted: Dec 20, 2012 7:24:02 AM

Wow.
PDQBlues
Champion Author San Diego

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Message Posted: Dec 19, 2012 5:26:16 PM


It would appear that the US will need to play technological 'catch-up' with a foreign country. That is, assuming that these politicians begin to focus on what's good for the US rather then for their own political party. If that continues, the US may be left in the dust for many decades.
matthwbar
Champion Author Toledo

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Message Posted: Dec 19, 2012 1:08:58 PM

Less money for Obama...
Cheepo
Champion Author Tampa

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Message Posted: Dec 19, 2012 12:16:51 PM

I do not care what the chinese do, drill baby drill and keep it here!!!!
nsdp
Champion Author San Antonio

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Message Posted: Dec 19, 2012 11:56:23 AM

Oh if only we were as efficient as the Chinese. We complain about their new coal plants but their plants use three tons of coal to generate the same amount of electricity that it takes US plants 4 tons to generate. They also tear down the 3% comprising the most inefficient plants each year. They are doing while we talk.

[Edited by: nsdp at 12/19/2012 11:59:46 AM EST]
peakkeller
Champion Author Colorado Springs

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Message Posted: Dec 19, 2012 11:33:07 AM

This is good news - China needs to cut down on their pollution.
Van_Halen
Champion Author Atlanta

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Message Posted: Dec 19, 2012 11:22:35 AM

.
Wow, big deal, as that is only 2 months Interest that we are paying to China every two months. I think they can afford it since we and our children and grandchildren are paying for it!
chyguy3
Champion Author Wyoming

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Message Posted: Dec 19, 2012 11:03:47 AM

Only 8.6m yuan?? Only 8.6? Seems like a drop in the teacup to me.

[Edited by: chyguy3 at 12/19/2012 11:06:13 AM EST]
jimmy544
Champion Author Boston

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Message Posted: Dec 19, 2012 11:01:19 AM

This will eventually pay off for China. They need to cut their use of coal and oil because they have to import most of it and it will only become more expensive and harder to obtain in the future. The Chinese government has a real energy policy unlike the one that the Oil companies dictate to our government.
techque
Champion Author St. Louis

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Message Posted: Dec 19, 2012 10:57:19 AM

this is your carbon hoax fascists at work.
40mpgsaturn
Champion Author Wisconsin

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Message Posted: Dec 19, 2012 10:56:21 AM

Good!!
momof5MN
Champion Author Twin Cities

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Message Posted: Dec 19, 2012 10:45:55 AM

Clean it up.
jazzmanbiv
Rookie Author Virginia

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Message Posted: Dec 19, 2012 10:45:06 AM

Hmmmmm let me think about how I can cash in on some of this profit to be made?
DimitrisIL
Champion Author Chicago

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Message Posted: Dec 19, 2012 10:44:00 AM

China needs to upgrade and invest in clean energy now before fog from CO2 gets so dense and its people can't see each other.
Double_Golden
Champion Author San Francisco

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Message Posted: Dec 19, 2012 10:43:45 AM

yes, Renewable Energy...
twinfanMN
Champion Author Minnesota

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Message Posted: Dec 19, 2012 10:43:40 AM

I like this idea
buzzieNY
Champion Author Buffalo

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Message Posted: Dec 19, 2012 10:38:40 AM

$1.4 billion and who is keeping track of this?
NotmeuQc
Champion Author Montreal

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Message Posted: Dec 19, 2012 10:37:22 AM

If they can lower their carbon emissions, this is good.
Topshopper2011
Champion Author New Jersey

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Message Posted: Dec 19, 2012 10:34:41 AM

about time! China pollutes alot!
carpenter4u
Champion Author Virginia

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Message Posted: Dec 19, 2012 10:34:31 AM

They do not follow the rules
FusionCa
Champion Author San Diego

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Message Posted: Dec 19, 2012 10:34:22 AM

Go Green!
rwrMO
Champion Author Missouri

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Message Posted: Dec 19, 2012 10:32:12 AM

they will pay with our money and not feel it.
truckpdlr
Champion Author Tucson

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Message Posted: Dec 19, 2012 10:30:54 AM

Good for them
Hypersonic
Champion Author Maryland

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Message Posted: Dec 19, 2012 10:30:01 AM

Renewable is the future.
Insuremn
Champion Author Twin Cities

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Message Posted: Dec 19, 2012 10:29:52 AM

I don't believe this.
mnorthwood13
Champion Author Michigan

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Message Posted: Dec 19, 2012 10:29:51 AM

Not a surprise.
Cableman66
Champion Author North Carolina

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Message Posted: Dec 19, 2012 10:29:45 AM

Ok whats it do for us.
BeaconLite
Champion Author Ottawa

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Message Posted: Dec 19, 2012 10:28:27 AM

Good to see their not burning goal or less of.
zimowski
Champion Author San Jose

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Message Posted: Dec 19, 2012 10:25:04 AM

Better than more coal-burning plants.
f4driver
Champion Author Maine

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Message Posted: Dec 19, 2012 10:23:44 AM

The chi-coms doing what they do best.
lpatti1
Champion Author Philadelphia

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Message Posted: Dec 19, 2012 10:21:28 AM

And who gets the money and benefits from it? NOT WE THE PEOPLE, DO WE?
JasTheAce
Champion Author Raleigh

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Message Posted: Dec 19, 2012 10:21:27 AM

snooze
Norm10
Champion Author British Columbia

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Message Posted: Dec 19, 2012 10:21:14 AM

And the rich get richer - on tax payer money!
DesertRat2011
Champion Author Riverside

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Message Posted: Dec 19, 2012 10:19:55 AM

$1.4 billion and who is keeping track of this?
THEDodgeman
Champion Author Denver

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Message Posted: Dec 19, 2012 10:18:42 AM

big deal
bicycler
Champion Author Ontario

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Message Posted: Dec 19, 2012 10:17:44 AM

Good for them!
7SPEEDY7
Champion Author Flint

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Message Posted: Dec 19, 2012 9:59:20 AM

China Really????
2008JeepX
Veteran Author Newfoundland

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Message Posted: Dec 19, 2012 9:56:48 AM

As much as I fear China from having so much raw natural resources imported (Oil, Iron Ore, Coal,,, etc) i do hope they get this to work,,, but that being said,,, if it works will they export the technology??? ya they will,,, and we in north america should be the leaders in new technology and renewable resource energy creation...
humblepie
Champion Author Toledo

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Message Posted: Dec 19, 2012 9:51:34 AM

obamanomics spreads to china
bar1035
Champion Author Charlotte

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Message Posted: Dec 19, 2012 9:38:34 AM

Did they relocate China to North America?
wegman
Champion Author Twin Cities

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Message Posted: Dec 19, 2012 9:18:00 AM

A pittance. I wish they were wasting MORE money on this nonsense. But Red China is so backwards with this stuff (they burn dirty coal in abundance) it might be cost effective for them.
8ballnd
Champion Author North Dakota

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Message Posted: Dec 19, 2012 9:10:45 AM

this is good news all countries should be doing this it will help clean up the world.
Rhino8of8
Champion Author Wisconsin

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Message Posted: Dec 19, 2012 9:01:52 AM

Wow. Wonder if there is anything to learn from what they are doing.
Hangnail309
Champion Author Manitoba

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Message Posted: Dec 19, 2012 9:01:34 AM

will this affect gas or oil prices?
badbonita
Champion Author Syracuse

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Message Posted: Dec 19, 2012 9:01:20 AM

Not surprised that the Chinese would throw massive amounts of money at projects that most other countries would hesitate at.... wait, isn't that what Mr. Obama has our government doing....
357revo
Champion Author Pittsburgh

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Message Posted: Dec 19, 2012 8:58:32 AM

Since CO2 emissions are irrelevant, the Chinese spending this money on renewables can only damage their economy in a futile attempt to reduce CO2.

The U.S. should back away from doing the same stupid thing.
bikechuck
Champion Author Indianapolis

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Message Posted: Dec 19, 2012 8:58:24 AM

This seems to be an insignificant amount compared to the amount of subsidy spent by the US government in our country. China is reportedly the biggest polluter with many coal energy PRoducing plants, add that to the many cheap inferior PRoducts being PRoduced, and this is for PR at best.
EnviroChemist
Champion Author Oklahoma

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Message Posted: Dec 19, 2012 8:51:48 AM

Government monies, to employ the populous for the betterment of the country. Sounds familiar!
rockymountman
Champion Author Roanoke

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Message Posted: Dec 19, 2012 8:51:07 AM

and this is important to me because....................
Aserdaten
Champion Author Florida

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Message Posted: Dec 19, 2012 8:51:01 AM

I guess they've got the money for those subsidies, so why not?
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