Japan approved on Monday incentives for renewable energy that could unleash billions of dollars in clean-energy investment and help the world’s third-biggest economy shift away from a reliance on nuclear power after the Fukushima disaster.
Industry Minister Yukio Edano approved the introduction of feed-in tariffs (FIT), which means higher rates will be paid for renewable energy. The move could expand revenue from renewable generation and related equipment to more than $30 billion by 2016, brokerage CLSA estimates.
The subsidies from July 1 are one of the few certainties in Japan’s energy landscape, where the government has gone back to the drawing board to write a power policy after the Fukushima radiation crisis, the world’s worst nuclear disaster since Chernobyl in 1986.
Read the rest of the story: Japan approves renewable subsidies in shift from nuclear power.
Japan is poised to overtake Germany and Italy to become the world’s second-biggest market for solar power as incentives starting July 1 drive sales for equipment makers from Yingli Green Energy Holdings Co. to Kyocera Corp.
Industry Minister Yukio Edano today may set a premium price for solar electricity that’s about triple what industrial users now pay for conventional power, a ministry official said. That may spur at least $9.6 billion in new installations with 3.2 gigawatts of capacity, Bloomberg New Energy Finance forecast. The total is about equal to the output of three atomic reactors.
“The tariff is very attractive,” said Mina Sekiguchi, associate partner and head of energy and infrastructure at KPMG in Japan. “The rate reflects the government’s intention to set up many solar power stations very quickly.”
Read the rest of the story: Solar Boom Heads to Japan Creating $9.6 Billion Market: Energy.
Japan is considering a plan that would make it compulsory for all new buildings and houses to come fitted with solar panels by 2030, a business daily said Sunday.
The plan, expected to be unveiled at the upcoming G8 Summit in France, aims to show Japan’s resolve to encourage technological innovation and promote the wider use of renewable energy, the Nikkei daily said.
Read the rest of the story: Japan ‘plans solar panels for all new buildings’.