Solar power favored after nuclear leakage in Japan

Nuclear leakage in Japan triggered hikes in the solar and wind energy sectors on the domestic secondary stock market Wednesday.

The leakage, which was caused by the massive earthquake and tsunami in Japan, also sparked a dramatic drop of prices in the markets nuclear sector, Shanghai Evening Post reported Thursday.

The stock prices of many Chinese PV companies listed in the US surged, according to the paper.

Industry insiders said the global development of nuclear power will not change significantly, but some countries may re-evaluate the safety of their nuclear power plants. As a result, energy policies might tilt to fields like PV, wind power and other renewable energies, the newspaper said.

Zou Hui, an analyst for Orient Securities, said that among all the alternative non-fossil energies, PV is the most secure and environmentally friendly. PV is likely to be favored, the newspaper said.

Datong Securities Analyst Yu Hong told the reporter that PV power generation will be an attractive alternative to nuclear power for Japan. The country will face a gap of tens of millions of kilowatts because nuclear power plants are shut down. With the advantage of a short generation cycle, Yu said, PV power generation will be an important solution for Japan.

The National Nuclear Safety Administration has already made it clear that the strategic layout of Chinas nuclear power development will not change, according to the reports. China Daily