According to the Voice of China's CCTV News, Japan has recently approved a new solar subsidy policy, which the industry believes is a significant benefit for some Chinese photovoltaic companies that have already expanded into the Japanese market.
Yukio Edano, the Minister of Economy and Industry of Japan, recently announced that Japan has officially adopted the renewable energy incentive policy and approved the solar energy subsidy policy, which will encourage the country to add at least 9.6 billion new installations of 3.2 million watts of photovoltaic and solar energy, and the output is equivalent to the power generation of three nuclear reactors. This policy requires Japanese public utilities to purchase electricity generated by renewable energy sources such as solar, wind, and geothermal energy at predetermined high prices for a period of 20 years. This means that the Japanese government will provide a subsidy of 42 yen per kilowatt hour for photovoltaic power generation, which is twice the subsidy amount from Germany and as much as three times the subsidy amount from China. And it will provide a subsidy of 23.1 yen for wind power generation, which is much higher than Germany's subsidy of 4.87 euros.
Deutsche Bank responded first to this policy. Its functional clean energy analysts report that this subsidy policy will generally increase the sales of photovoltaic manufacturers, and Japan is expected to replace Italy as the second largest photovoltaic market after Germany. In fact, before the Fukushima nuclear accident in Japan, nuclear power accounted for nearly 30% of Japan's electricity supply. After the cessation of nuclear power this time, the Japanese government intends to reduce its dependence on nuclear power and has also put the commercialization of solar energy on the agenda.
Experts have pointed out that this is certain positive news for China's photovoltaic enterprises. Although our market share in Japan is not high, due to the stimulation of this policy, it is believed that many enterprises will focus on exploring this untapped market. After the adjustment of this subsidy policy, it may also attract more Chinese photovoltaic enterprises to invest more energy in entering the Japanese photovoltaic enterprise market.
