29 Jun '12, 5pm

Japan Renewable Energy Investments May Double as Incentives Start

Japan Renewable Energy Investments May Double as Incentives Start

The government initiative will require utilities to buy power from renewable energy providers at premium prices under so-called feed-in tariffs. As a result, investment in solar, wind and other forms of clean energy may jump to $17.1 billion from $8.6 billion in 2011, Bloomberg New Energy Finance estimates. “The level of interest in clean energy is at its highest ever,” Yugo Nakamura, an analyst at New Energy Finance said. “The national government has shown strong commitment to renewables by setting generous feed-in tariff rates.” The tariffs are part of efforts to cut Japan’s dependence on nuclear power following the Fukushima disaster last year, which forced the closure of all reactors in the country for safety checks. They also aim to curb a surge in imports of fossil fuels to switch on non-nuclear plants that cost utilities an additional 2.3 trillion yen ($29 billion) ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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