China to scale-up solar power?

Maybe the New York Times can dig up Walter Duranty to report about this 5-year plan.

Reuters reports,

China has further revised up its solar power development target for 2015 by 50 percent from its previous plan, state media reported on Thursday.

The government has set a target for installed solar power generating capacity to reach 15 gigawatts by 2015 and wind power capacity to hit 100 GW, China National Radio reported, citing an announcement from the National Energy Administration.

The ambitious move may have been encouraged by a rapid increase in solar power installation in recent months after the government unified grid feed-in tariffs for solar projects for the first time in July, and offered a higher price for projects that would be put into operation before the year end.

China had doubled its 2015 solar power goal to 10 GW after the Japanese nuclear power crisis.

Installed solar power capacity at the end of 2010 was less than 1 GW in China, the world’s largest exporter of photovoltaic products and home to some of the industry’s top players, such as Trina Solar, JA Solar, Suntech Power and LDK Solar.

And Duranty may be needed to maintain this fiction as the Sydney Morning Herald reports today,

A LEADING Chinese government economist has confirmed what a slew of economic data had already shown – that China’s long-booming economy has slowed dramatically and the era of double-digit growth is officially a thing of the past.

”We believe China is nearing the end of the period of high economic growth,” said Yu Bin, director general of macroeconomic research for the ruling State Council’s research centre. ”What we need is moderate and reasonable economic growth.

Walter Duranty: The NY Times reporter who won a Pulitzer Prize for lying about the outcome of Stalin's 5-year plans.

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