Japan recently approved 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, report Yuko Inoue and Leonora Walet at World Environment News. The push for renewables is aimed at cutting reliance on not only nuclear, but pricey oil and liquefied natural gas for energy needs. The scheme requires Japanese utilities to buy electricity from renewable sources such as solar, wind and geothermal at pre-set premiums for up to 20 years. Costs will be passed on to consumers through higher bills. Utilities will pay over 50 cents per kilowatt hour for solar-generated electricity, double the tariff offered in Germany and more than three times that paid in China. Subsidies have spurred explosive growth in renewable energy in countries such as Germany, which nearly tripled its output in less than a decade. Meanwhile, the US government has yet to offer longterm markets to wind and solar developments, leading to decreasing confidence among investors. Analysts say Japan has huge potential to generate renewable energy from the sun, wind and geothermal sources.
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Japan Approves Renewable Subsidies In Shift From Nuclear Power Date: 19-Jun-12
Yuko Inoue and Leonora Walet. 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.
