China’s investment in solar power generation is expected to hit around $39 billion (£24 billion) by 2015.

According to the country’s newly revised Five-Year Plan, the investment is expected to create around 500,000 jobs.

The news comes amidst the European Commission’s investigation into allegations that Chinese firms are selling solar panels below market value in Europe.

Reports claim Gao Jifan, the founder of Trina Solar welcomed the plan and said overseas companies would now focus on how to enter China instead of accusing firms of dumping solar products.

According to the plan, China will add 10GW of large-scale solar capacity and 10 GW of distributed PV over the five-year period.