CHINA’S NEW ENERGY BOOST

China Low-Carbon Incentives Are Almost Triple Those in U.S., Study Finds
Catherine Airlie and Alex Morales, October 18, 2010 (Bloomberg News)

"China’s incentives to encourage low- carbon generation such as solar and wind power are almost triple those in the U.S…Measures to spur renewable energy, as well as taxes on dirtier forms of generation such as burning coal placed China above the U.S., Japan, Australia and South Korea in a six- country study and below only the U.K…

"China, the biggest emitter, said last year it aims to cut carbon dioxide emissions per unit of gross domestic product by 40 percent to 45 percent from 2005 through 2020, when its target is to get 15 percent of its energy from renewable sources. The U.S and other countries are losing out to China in developing clean energy…"

click thru for more info

"China overtook the U.S. on Sept. 8 to top a quarterly index of the most attractive countries for renewable-energy projects compiled by the global accounting firm Ernst & Young. State- owned China Development Bank loaned at least $42.8 billion this year to solar manufacturers…The Asian nation had three wind turbine makers in the top 10 worldwide last year in terms of sales by megawatts…

"…[The incentives] study said that measures to promote clean energy or tax fossil fuels, when adjusted for purchasing power in the respective countries, amount to an implicit price of carbon of $29.31 in the U.K., $14.22 in China, $5.05 in the U.S., $3.11 in Japan, $1.38 in Australia and $0.72 in South Korea…[but the] comparisons are 'imperfect' because of differing circumstances…"

click thru for more info

"A separate study by HSBC Holdings Plc in March found that South Korea leads the world in terms of the proportion of economic stimulus funding dedicated to measures to increase energy efficiency and slash carbon emissions, with 78 percent…

"The figure for China was about a third, in the U.S. it was 12 percent, and in the U.K. it was 15 percent. Of $82 billion of green stimulus funds actually spent last year, China accounted for $61 billion…"