China puts $1.1 bln into solar energy

China is investing more in its solar industry...

On Tuesday, the Ministry of Finance said it was giving another 1.1 billion U.S. dollars in subsidies to the renewable energy industry, after spending another one billion dollars, in the first half of the year.

PKG

China is doing more to support its flagging solar industry.

The Ministry of Finance said the funds will be pumped into new projects designed to generate 5.2 gigawatts of solar power.

Currently, 149 projects are benefiting from state subsidies.

These are giant projects, with a capacity of no less than 10 megawatts each...

The ministry is also encouraging investment in smaller, independent solar power stations - offering them higher subsidies, per watt.

Most of the stations are for islands or remote areas, to bring power to some 280,000 households in rural China...

As well as boosting the country's solar industry, in a expanded domestic market... After facing headwinds abroad.

In September, the EU Commission launched an anti-dumping probe into Chinese solar inputs - after European solar makers accused Chinese exporters of selling below cost...

That investigation, putting China's 25 billion-dollar worth of solar exports to the EU - China's biggest trade partner - at risk.

Just months after the U.S. slapped new tariffs on Chinese solar panels - some as high as 36 percent.

Making global demand for Chinese solar products, a lot less certain...

Forcing the Chinese government to boost solar makers' competitiveness at home...

Including linking up smaller solar firms to the national grid... Giving Chinese solar makers a new, rapidly-growing consumer market market: China.