Mitsubishi Electric and industrial design company IHI are now teaming up in the race to develop new technology within four years that can beam electricity back to Earth without the use of cables.

Elpida will issue 30 billion yen worth of preferred shares, which carry no voting rights, for purchase by the Development Bank of Japan.

There are worries that an increase in bank lending, which has helped to drive the Chinese market rally, might see a rise in bad loans.

The big bounce¡XGDP plunged by at over 10% (annualized) in the previous two quarters¡Xowes much to stimulus packages in Japan and around the world.

A run of poor earnings has damped confidence in once-booming solar companies.

"During the boom, there were significant capacity increases. There were also, by the way, significant announcements of capacity that may or may not have happened..."

India expects one trillion rupees (US$21 billion) of investments over a five-year period ending March 2012 for renewable-power generation, according to the chairman of Indian Renewable Energy Development Agency.

China's exports and new loans tumbled in July and industrial output rose less than estimates, underscoring government concern that the economy is yet to establish a solid recovery.

China will maintain its current macroeconomic policy stance aimed at bolstering domestic spending as the nation continues to experience fallout from the global recession, Premier Wen Jiabao said.

China is on its way to becoming a solar power - with financial incentives coming from every corner of the country - but a lack of experienced project developers and equipment installers may cast a shadow over the growing industry.

Elpida Memory may sign up today (August 7) with the Development Bank of Japan, becoming eligible for about 30 billion yen (US$314 million) in government aid, Nikkei English News said.

The Chinese authorities in July predicted 8% growth for 2009, thanks to a four trillion yuan (US$585 billion) economic stimulus plan. But the global downturn has still put millions of Chinese out of work.

Beijing now expects China to achieve 8% growth for 2009 as a whole, which compares with a predicted contraction of between 1% and 1.5% in the US. However, the Chinese government warned that some economic challenges remain.

Experts at Semicon West 2009 were in broad agreement that the industry must change its business model in the face of global recession and ever-advancing R&D costs.

Governments across Asia have launched massive stimulus packages focused on renewable energy in recent months, and some analysts think the new infusion of cash could reshape a solar industry reeling from the economic downturn.

Japanese chipmaker Elpida was thrown a 160-billion-yen (US$1.7 billion) financial lifeline on June 30, including public funds, to help it survive the economic downturn, officials said.

Japan has passed the worst of its current slump and is on course for growth in its next fiscal year, but the recovery of the world's second-largest economy could yet prove vulnerable, Kaoru Yosano, finance minister, has warned. The comment came just before a survey showed that business confidence had risen for the first time in two and a half years.

China's manufacturing expanded for a fourth month as a 4 trillion yuan (US$585 billion) stimulus plan and record bank lending revive the world's third-largest economy.

Elpida Memory will receive 50 billion yen (US$521 million) from the Japanese government and a Taiwanese partner after falling semiconductor prices led to a net loss last fiscal year, Japan's economy ministry said.

Japanese PC chip maker Elpida Memory will receive financial support of about 200 billion yen ($2.1 billion) from the government and public and private sector banks, the Nikkei business daily said on Saturday.

Struggling chip maker Elpida Memory has applied for a new government financial aid program in a bid to shore up its capital base and ride out a severe industry downturn, sources said.

Elpida Memory is still considering applying for a public funds injection, a company spokeswoman said Friday.

China, which has criticized protectionist moves elsewhere, is pushing ahead with efforts to ensure that its gargantuan economic stimulus package benefits domestic firms.

President Barack Obama has faced new concerns among the American public about the budget deficit and government intervention in the economy as he works to enact ambitious health and energy legislation, a new Wall Street Journal/NBC News poll finds.

The World Bank has raised its forecast for growth in China this year from 6.5% to 7.2% amid signs that the economy is doing better than expected.

Canadian Solar plans to boost its annual production capacity from 620 megawatts to 800 MW by end-August, to meet an expected surge in demand, according to company president and CEO Shawn Qu.

Beijing is expected to unveil subsidized prices for solar power production as soon as the second half of the year, the South China Morning Post reported on Monday, citing an industry official.

German Chancellor Angela Merkel has said that politicians needed to consider whether to aid struggling chipmaker Qimonda and its peers in Germany.

Call them philanthropic or just call them smart investors, the bottom line is that Google wants to provide an alternate solution to the greenhouse gases of laden coal power generation in the US.

A senior Chinese official has said China wants to produce one-fifth of its energy needs from renewable sources by 2020, a significant increase on the current target.

The economic slowdown could last five to 10 years and cost trillions of dollars, a top US economist has warned. He is urging the US government to introduce a second stimulus package of $500bn to boost the economy.

Solar power leaders remain hopeful in what could be a huge upturn in US solar demand, but continue to be careful about the rest of 2009 after being hit hard from the global credit predicament.

China said it will introduce a preferential tariff it will pay energy companies that use solar power for their generating capacity, as part of the government's push for greater use of clean technology.

Geithner said the two countries had already demonstrated they could co-operate in laying a foundation for economic recovery.

Optimists argue that the government's loose credit and fiscal policies have succeeded in staving off the worst of the economic downturn. However, there are growing concerns about the impact of these policies on the public finances.

Pioneering Taiwan industry leader Morris Chang says better focus is needed. "I think that the Chinese side is still intent on building their own integrated supply chain. They are assisting their design companies and their foundries. It's such a shortsighted policy..."

President Obama said on May 27 that he will use US$467 million in economic-stimulus money for initiatives that in two years will double the country's capacity for clean, renewable energy.

The SEMI PV Group has recommended that China should accelerate its adoption of PV-generated electricity to reach the global average by 2014.

Industry chieftains at the Reuters Global Technology Summit have debated the impact of the Obama administration's tax policies and bailout. Some railed against attempts to chip away at the deficit by cracking down on offshore tax havens. Others say a heavy government hand will hurt competitiveness at a time hardware and software firms are slugging it out for a slice of a stagnant pie.