China may double solar power capacity

Last week, China Daily reported that the announcement has come in the wake of the Fukushima disater, which has since caused many to doubt the safety of nuclear power.

It adds that the country is likely to announce a new five year target for solar soon, and that the government already stalled approvals for new nuclear power projects on March 16.

Currently, under one gigawatt of solar is installed in China. If the new targets are implemented, this would provide a big boost to the domestic photovoltaic market and reduce the country’s dependence on export markets, especially in Europe.

China Daily based its report on an article in the China Securities Journal on March 30, 2010, which citied unnamed sources.