Because of diminishing reliance on nuclear power,
Japanese government is increasingly supporting more of solar industry, especially
Chinese solar companies. The domestic solar power market reached $19.8 billion
(¥1.91 trillion) in 2013, surpassing Germany, which was the biggest market from
2009 to 2012, according to the report by IHS Inc.
Japan is one of the world’s largest solar energy
market with the installation of new solar power systems more than doubling
capacity, according to a report by a U.S. research firm.
The use of solar power in Japan has accelerated since
the so-called feed-in tariff scheme for renewable energy was introduced in July
2012 to help offset the loss of nuclear power caused by the repercussions of
the Fukushima disaster, which has led to nearly all of the nation’s 50 reactors
to be idled over nuclear safety concerns.
To improvise dependence on solar power, the
Chaorisolar Energy Science and Technology Co Ltd and the Sky Solar Holding Co
Ltd have planned to install 100 megawatts project by investing around 7.5
billion yen ($93.9 million) in Japan. The collaboration is a new vibe because
both of them are specialist in their fields. Chaorisolar is a Shanghai-based
maker of photovoltaic products whereas Sky Solar builds solar farms. The
project is supposed to generate gross profits equal to $10yuan ($1.60) a watt.
This cooperation is regarded as a strong turning point
to improve Chaorisolar’s sales in spite of much negligence in large markets
such as Europe. While that is exceeded by the 6.8 gigawatts of new solar power
systems projected in China this year, the price of the equipment is expected to
make Japan the largest market in terms of value, the report said.
Global suppliers in the solar power industry are being
drawn to Japan’s market, companies such as Hareonsolar Technology Co Ltd,
Yingli Green Energy Holding Co Ltd and Canadian Solar Inc, are planning to open
a subsidiary in Japan. In fact, Suntech Power Holdings Co has ventured in Japan
after acquiring MSK Corp, a maker of solar equipment. Whereas domestic firms
continue to dominate the market for residential systems, which account for
nearly 40 percent of all demand in the country, because consumers are showing a
strong preference for domestic brands, IHS said.
Solar power will also contribute to the growth of
electric vehicles charging and for hydrogen production, making it the
next-generation energy source. The country’s manufacturing sector alone is
supposed to increasingly rely on some 60 GW of solar power to run its
operations, accounting for 10% of the total electricity demand in the sector.
The residential segment will contribute around 80 GW
of solar power installations by 2030, covering about 20% of total electricity
demand in this segment.
Two other research entities, including Bloomberg New
Energy Finance, also project that Japan’s solar power market will become the
world’s largest this year.
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