Japan:

Japan Increases Feed-in-Tariff for Offshore Wind but Geothermal Remains the Same (Reuters)

(Courtesy CIA.gov)

Japan will lift the amount utilities must pay for electricity from offshore wind farms while cutting prices for power fed in from solar projects, as the country looks to diversify its use of renewable energy. However, the tariff for geothermal power remains unchanged.

The decision by Ministry of Economy, Trade and Industry (METI) follows a recommendation made by a government panel earlier this month and aims at boosting business for companies connected to the wind sector both at home and abroad such as Hitachi Ltd and Mitsubishi Heavy Industries.

Japan, hoping to boost alternative energy in the wake of the Fukushima nuclear disaster, introduced a feed-in tariff scheme in 2012, under which utilities must buy all power generated from renewable sources such as wind, solar or geothermal.

Depending on project size, Geothermal power will receive 26-40 yen per kilowatt-hour (kwh) in fiscal year 2014, unchanged on Fiscal 2013.

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