Solar investment target set at US$39.5 billion

China expects investments in solar power to hit US$39.5 billion by 2015 and a huge rise in the sector’s employment.

The National Energy Administration said China’s 12th five-year-plan from 2011 to 2015 expected employment in the solar sector to jump to 500,000. China is a leading maker of solar energy products, most of which are exported.

The boost in employment means Chinese solar power companies will have a stable home market for support at a time when they European and American competitors are resorting to lawsuits to stem China’s overseas inroads. Chinese companies are being accused of dumping solar products abroad at very low prices.

China’s 12 Five-Year Plan plans to add 10 million kilowatts of installed solar photovoltaic capacity; 1 million KW of installed solar light and heat power generation capacity and 10 million KW of distributed photovoltaic power generation.