KOWLOON, HONG KONG / ACCESSWIRE / August 29, 2017 / ECO Energy Tech Asia ("Eco Energy Asia") (OTCQB: EYTH) recently announced that it plans to install the latest solar technology established by the world's Top solar power corporation from China, Trina Solar. It is planned to the new photovoltaic power generation system in the company's new Biodome project in China. With this investment, Eco Energy Asia will benefit from the incentive program which was initiated in 2013 by the Chinese government to boost new solar installations. The central government currently provides 20-year subsidies of US$0.06 per kilowatt-hour of output from solar rooftop projects. Eco Energy is able to achieve a total return rate of 8 % over a payback period of 7-9 years. This will facilitate the financing of the new Biodome project and simultaneously increase the efficiency of the project.
The Chinese government supports the installation and use of photovoltaic systems with financial advantages. Corporate investments in solar installations are met with generous policies and incentives. In 2013, the Chinese government introduced new feed-in tariffs (FITs), deployed at both state and provincial levels to fuel the growth of distributed solar rooftop installations. The National Energy Administration aims to deregulate the electricity market for small distributed solar generation, including rooftop projects. Projects producing fewer than six megawatts of energy are exempt from the application of a power generation license. Since 2014, a variety of payments and subsidies exists to help solar projects undertaken by individuals and private enterprises. Industrial and commercial entities setting up solar rooftop projects are offered a payback period of 7-9 years with an eight percent return rate.
The Chinese solar market is still booming. Due to growing air pollution and concerns about the future power supply, the Chinese government initiated the solar power support program with its generous conditions.
About ECO Energy Tech Asia Limited:
ECO Energy Tech Asia Limited develops, markets and produces an ETFE insulated Biodome and Vertical Growing System that allows the year-round production of fresh food produce, regardless of weather conditions, and significantly reduces energy and input requirements.
Contact ECO Energy Tech Asia:
Eco Energy Tech Asia Limited
Unit 503, 5/F, Silvercord Tower 2
TST, Kowloon
http://www.eyth.co
Email: [email protected]
SOURCE: ECO Energy Tech Asia Limited