Tokyo’s push for clean electricity opens a new green market
“This could provide a significant stimulus for the development of a major renewable energy market in Japan, and underpin the global ambitions of a number of large Japanese industrial companies in the clean energy sector.”
Japan certainly does not lack green energy ambition.
In line with last month’s decision, the country has plans that envisage the investment of Y38tn ($483bn) in non-hydroelectric renewable energy, such as solar and wind power, over the next two decades, plus an extra Y84tn in energy-efficient technology.
This will come on top of the introduction in July of some of the world’s most generous low carbon energy subsidies, which have already spurred an estimated $2bn of investment.