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Wednesday, September 8, 2010

State Aid in China

Nice details on how China helps targeted conpanies.

China Takes Lead in Clean Energy, With Aggressive State Aid - NY Times

Key Points:
  1. Land provided at severely discounted rates (90% or even free) to select companies in China.
  2. The land can then be used at full face value for loans.
  3. Discounted loans
  4. Chinese intervention on currency markets to keep the Yuan low.
  5. Limits on exports of rare earths used in clean energy technology (DC Motors).
  6. Many countries are subsidizing China's exports with green energy requirements.
  7. Solar prices have fallen 50% in the last two years.
  8. China will make 50% of all Wind Turbines this year.
  9. China will make 50% of all Solar Cells this year.
  10. Expedited permit approval process in China (3 months vs. years in the US).

I found it interesting that it was easier for a US clean energy company to get financing in China than in the US.

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