A plan to spend five trillion yuan (US$74.73 billion) from 2011 to 2020 on the development of new energy industries has reportedly been submitted to China's State Council, and the government is expected to announce its new energy policies for the next ten years by the end of the year.

Renewable energy development is expected to receive 2-3 trillion yuan in investment during the period, of which the wind power sector could account for 1.5 trillion yuan and solar power development a mere 200-300 billion yuan, according to people familiar with the matter. Surprised by the funding allocation, some analysts believe this is another method for the government to prevent an overheating solar industry.

The goal for the new plan is to increase non-fossil-fuel energy to account for 15% of the country's energy consumption in 2020, and also aims to raise the energy generating capacity via nuclear and hydro applications to 75 million KW and 380 million KW, respectively.