China Release Energy Efficiency Reward Funds

CHINA has been setting impressive energy efficiency targets in the face of a rocketing economy and progress, and has now offered further funds for energy efficiency rewards to industry.

The Chinese Ministry of Finance said today that the Government will continue to allocate funds for rewards to enterprises who upgrade their facilities and production techniques with energy-efficient technologies.

A statement on the Ministry of Finances website explains that the rewards are intended to increase energy efficiency and promote green technologies. China, the world’s second largest economy, has pledged to reduce CO2 emission produced per unit of GDP (gross domestic product) by 40 to 45 percent by 2020.

To qualify for a reward, companies must have consumed over 20,000 tonnes of coal equivalent (TCE) annually before installing and implementing energy-efficient technologies and then save 5,000 TCE after the energy efficiency measures are taken.

Enterprises in the Chinese Eastern Regions will be rewarded with 240 yuan ($36.92) per TCE saved with companies in Central and Western Regions being given 300 yuan ($46.15) per TCE saved, the website statement revealed.

Picture: Beijing China Lama Temple by D Perstin

Friday 24th June 2011

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