Japan's Agressive FIT Already Unlocking Gigwatts of Wind and Solar Power: As Goldman Sachs Group Inc. and billi...

Japan's Agressive FIT Already Unlocking Gigwatts of Wind and Solar Power | Renewable Energy News Article

renewableenergyworld.com 01 Oct '12, 3pm

Japan's Agressive FIT Already Unlocking Gigwatts of Wind and Solar Power: As Goldman Sachs Group Inc. and billi...

The trading house, Japan’s second-largest investor in power generation outside utilities, will add wind farms and at least two biomass plants to take advantage of the above-market rates for electricity from renewable sources the government introduced in July. Sumitomo’s local utility, Summit Energy Corp., expects profits from wind power to triple in as many years, said the unit’s president, Shinichi Kitamura. Sumitomo’s focus is in part a response to a rush into solar projects that’s pushing up land prices and salaries, as well as luring investors from gambling parlor operators to asset managers. While government data show that Japan can build wind farms at a cheaper price and with higher returns than solar, 99 percent of applications for the new tariffs are for electricity generated from sunlight. “With so many companies rushing in we are seeing a solar bubble forming and...

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

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