China Puts Geothermal Energy on Fast Track (China Securities Journal)
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| (Courtesy CIA.gov) |
Head of the
National Energy Administration (NEA) Wu Xinxiong said at a recent meeting in Hebei's Xiong County that the administration will issue a policy package and seek support from fiscal and financial departments to facilitate geothermal energy exploration and utilization. One analysis believes the geothermal energy sector will grow faster after subsidy details are settled.
China is rich in geothermal energy resources; the east-central sedimentary basin alone is found to have 49.17 billion cubic meters of underground hot water, which contains energy reaching 1.854 billion tons of coal equivalent (TCE). According to experts, geothermal energy is independent of weather and seasons and therefore free from the instability and indirectness as found in wind and solar energy.
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