Japan commit $1bn to clean energy in new budget
Japanese Prime Minister Shinzo Abe is looking to secure JPY 130.7bn ($1.12bn) for the country’s 2015 budget to finance a range of renewable energy programmes, according to the Japan Times on Wednesday
Japanese Prime Minister Shinzo Abe is looking to secure JPY 130.7bn ($1.12bn) for the country’s 2015 budget to finance a range of renewable energy programmes, according to the Japan Times on Wednesday.
The government will include nearly US$40 million in the new budget aimed at lowering the cost of solar power generation.
The $1.12bn will go towards promoting renewable energy research and development.
Japan’s feed-in tariff scheme has been handicapped by an excess of solar projects that has led to some utilities refusing to buy electricity due to grid constraints and the potential for blackouts.
The budget plan also indicates the government’s ongoing support for nuclear power, with nearly $17bn slated for maintenance costs at the Monju prototype fast-breeder reactor in Fukui Prefecture, which was to play a key role in the country’s nuclear fuel recycling policy but has remained largely offline due to safety problems.
With some offline reactors set to come back online this year, the government has earmarked another $105m for subsidies aimed to improve nuclear safety measures.
