Solar Boom Heads to Japan Creating $9.6 Billion Market: Energy
Japan is poised to overtake Germany and Italy to become the worlds second-biggest market for solar power as incentives starting July 1 drive sales for equipment makers from Yingli Green Energy Holdings Co. to Kyocera Corp. (6971)
Industry Minister Yukio Edano set today a premium price for solar electricity thats about triple what industrial users now pay for conventional power. That may spur at least $9.6 billion in new installations with 3.2 gigawatts of capacity, Bloomberg New Energy Finance forecast. The total is about equal to the output of three atomic reactors.
The tariff is very attractive, said Mina Sekiguchi, associate partner and head of energy and infrastructure at KPMG in Japan. The rate reflects the governments intention to set up many solar power stations very quickly.
Prime Minister Yoshihiko Nodas effort to cut dependence on atomic energy that provided about 30 percent of Japans power before the Fukushima nuclear meltdown in 2011 will help a solar industry suffering incentive cuts across Europe. Its also raising concern among Japanese business groups that clean power aid will raise bills and slow Japans economic recovery.
http://www.bloomberg.com/news/2012-06-17/solar-boom-heads-to-japan-creating-9-6-billion-market-energy.html