[December 27, 2005] Huge market for renewable solar energy in China Tweet (Comtex Energy)BEIJING, Dec 27, 2005 (Xinhua via COMTEX) -- Energy experts predicted that the implementation of the Law on Renewable Resources on January 1, 2006 will open up a huge market in China for renewable solar energy. The new law is expected to boost the development of the country's solar power industry, said the experts. The Law on Renewable Energy, which was approved by the National People's Congress (NPC) Standing Committee in February this year, will encourages all units and persons to use solar energy-based generation systems. It is regarded as an important law for the safety of China's environment and for the development of its energy resources. Sources from the State Development and Reform Commission (SDRC) said the Chinese government is working on preferential policies to ease energy supply bottlenecks and to make renewable energy a major substitute for coal, oil and natural gas. Officials with the energy resources bureau of the SDRC said the government will also take steps to promote renewable resources, such as requiring major energy and power companies to buy renewable energy-based products. Solar energy is developing rapidly worldwide. Over the past 20 years, China's solar-based products have represented about 1 percent of the global market. China started research on solar batteries in 1958. Currently, more than 500,000 solar power generation systems have been installed in China's rural areas and in some remote places, bringing electricity to at least 500,000 families. Economic observers predict that by the year 2020, renewable energy will account for about 10 percent of China's total energy consumption. [ Back To TMCnet.com's Homepage ]