China’s heavy investment in solar energy projects could not only make the country a world leader when it comes to solar power, but it could also deliver some sunshine to exchange traded funds (ETFs) that track the sector.
When it comes to alternative energy, China has strategies that the United Sates could take a few cues from. Jeff Wolfe for CleanTechnica reports that China has signed 2 gigawatts (that’s 2000 megawatts) worth of projects with Suntech. For comparison’s sake, the total U.S. market is 350 megawatts.
China has not only become the hub to find the necessary products for solar production, they are also being sought after to supply the financing for installation in the United States. The engine for job creation in the United States may well be Chinese bank project funding.
Meanwhile, California has set the bar for solar panel installations, with around 50,000 to date, an environmental research group said. California now has the capacity of more than 500 megawatts of solar power at peak periods in the early afternoon – the same as a major power plant, reports Felicity Barringer for The New York Times.
To continue this growth, certain cities are offering incentives and financing for rooftop solar panel installation and long-term statewide rebates are cropping up to encourage the use of these panels. The growth outlook is sunny, however, as solar energy accounts for one-quarter of 1% of the state’s total energy capacity.
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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.