KuicK Research, the international market research firm, recently compiled a report titled, the Japan Solar Power Sector Analysis. They found that Japan accounted for seven percent of the world’s total installed PV capacity, giving them the third largest solar installed PV capacity in the world, with nearly 5GW.
Following the disaster at the nuclear power plant at Fukushima early last year, Japan shut down its entire nuclear sector, meaning that it lost 30% of its energy generation capacity. With no significant oil, gas or coal reserves of its own, Japan has turned to alternative sources of energy in its attempts to replace the lost capacity. Solar has developed the most due to a new feed in tariff structure which grants solar developers in Japan with one of the highest solar tariffs in the world. In 2011 alone the industry set its new record after there was 1GW of capacity installed.
Japan is still behind Germany and Italy for amount of total capacity, yet with the feed in tariff and other plans to fast track solar, it is expected to experience significant growth in the years to come.
Since the new structure encouraging renewable energy development was introduced more than 99% of the approved projects have been solar.
By. James Burgess of Oilprice.com
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…