Suntech bankruptcy hurts new energy drive (2)

As a result, solar energy companies have had to rely on the domestic market. In January, the government said solar facilities capable of generating a combined 10 gigawatts of power would be installed this year. However, analysts believe that if subsidies, grid connection policies and financing channels are not improved, it will be hard to reach the target.

China has been making great efforts to encourage renewable energy development to provide power for its fast economic growth while preventing the environment from worsening. For many years, China's economy has been powered mainly by coal, which accounts for over 60 percent of the nation's total energy consumption.

In its 12th Five-Year Plan (2011-2015), the government paid special attention to new energy industries, including solar energy, wind power, hydropower, nuclear power and biomass energy. The government has shown determination to solve China's pollution problems.

But achieving this goal will require the government to adjust its policies in pace with the development of the solar industry.

Globally speaking, new energy is closely related to the welfare of mankind. China has already become a leader in new energy development and will contribute even more in the future. To that end, it would be prudent for all the world's countries to refrain from engaging in trade wars and protectionism targeting new energy products.