31 Aug '11, 1pm

Japan Creates Major Feed-In Tariff for Renewable Energy

In a major breakthrough for the feed-in tariff movement worldwide, Japan's upper chamber has approved a new law implementing a feed-in tariff policy for renewable energy. The law, which goes into effect next July, sets a target of 30,000 MW of new renewable development within the next decade, nearly five times the 6,500 MW of wind, solar, and geothermal power currently operating in the country. The move has global implications, as the world's third largest economy follows that of the world's second-largest economy, China, and the world's fourth-largest economy, Germany, in implementing feed-in tariffs in order to rapidly develop renewable energy. The new law is also a clear sign that Japan plans to reduce its reliance on nuclear power, after the disaster at Tokyo Electric Power's Fukishima 1 plant. Japan's action, after weeks of bitter debate between renewable energy advoc...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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