According to Japan''s Ministry of Economy, Trade and Industry, residential solar PV systems with a capacity lower than 10kW will be awarded a FiT of JPY16 (US$0.11) per kWh in 2024 and JPY15 per...
This new policy calls for an increase in installed solar capacity from 79 gigawatts (GW) in 2022 to 108 GW by 2030. Initiatives include installing solar capacity on 50% of government buildings (6 GW), on corporate buildings and parking garages (10 GW), and on public land and promotion areas (4 GW).
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According to Japan’s Ministry of Economy, Trade and Industry, residential solar PV systems with a capacity lower than 10kW will be awarded a FiT of JPY16 (US$0.11) per kWh in 2024 and JPY15 per kWh in 2025.
For C&I rooftop solar installations, including projects that are 10kW or more but less than 50kW, as well as 50kW or more, the FiT will be JPY12 per kWh. It will drop to JPY11.5 per kWh in 2025.
Additionally, the Japanese government will launch four auctions this year for projects with capacities of more than 250kW, excluding rooftop solar PV systems. The upper limit prices will be JPY9.2, JPY9.13, JPY9.05 and JPY8.98, respectively.
According to BloombergNEF (BNEF), Japan needs to significantly increase its installed solar and wind power generation capacity by more than eight times – from 81GW in 2021 to 689GW in 2050 – if it is to reach its net zero targets. With such capacity, solar and wind generation will account for 79% of the electricity supply while nuclear will provide 11%.
The Japanese government is proposing 20-year FITs lower than $0.010/kWh for rooftop PV and a ceiling price of $0.087/kWh for solar energy auctions. These incentive levels will likely be insufficient to stimulate demand given rising solar project costs.
Japan''s Ministry of Economy, Trade and Industry (METI) has published the feed-in tariffs (FITs) it proposes to apply to solar installations with a capacity ranging from 10 to 250 kW and the feed-in premiums (FIPs) it wants to assign to solar projects over 250 kW that are selected through the country''s auction scheme in 2022.
The ministry has set a fixed FIT of ¥11 ($0.096)/kWh for PV systems with power capacities of between 10 and 50 kW and a FIT of ¥10 ($0.087)/kWh for installations with capacities of 50 to 250 kW. Both these project categories will be granted fixed tariffs without having to be selected in the procurement scheme, although projects belonging to the second group will be given the chance to participate in auctions awarding feed-in premiums and will be included, for the procurement exercises, in the 50-1000 kW group.
For the latter, the METI has set a ceiling price of ¥10 ($0.087)/kWh and has decided to exclude all PV systems connected to the grid before January 17, 2022. Through the auction scheme, the minister hopes to allocate 665 MW of solar capacity across three different auctions.
According to his estimates, the cost of solar projects has grown by around 20% from last year, and the tariffs are now being reduced by 10% compared to 2021 levels. “In 2021, Japan should have deployed between 4 and 5 GW of new PV capacity, as there are still unutilized projects from past FITs,” Magami further explained. “In 2022, there will be no more of these unfinished projects, and if the Japanese government does not expand its support measures, the newly installed solar power is estimated to be no more than 3 GW.”
The METI allocated 675 MW of PV capacity across three different auctions in 2021. “The average bid price ranged from ¥10.31/kWh to ¥10.82/kWh, with the lowest bid price at ¥10.23/kWh,” Magami emphasized, noting that all these prices are significantly above the ceiling price proposed for this year''s procurement exercises.
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