Japan has revealed updated feed-in tariffs (FiT) for commercial and industrial (C&I) as well as residential solar installations for 2024 and 2025.
As per Japan's Ministry of Economy, Trade and Industry, residential solar PV systems under 10kW capacity will receive a FiT of JPY16 (US$0.11) per kWh in 2024 and JPY15 per kWh in 2025.
For commercial and industrial (C&I) sector, ground-mounted solar PV systems ranging from 10kW to 50kW will receive a FiT of JPY10 per kWh in both 2024 and 2025.
Regarding C&I rooftop solar projects, including those between 10kW and less than 50kW, as well as those equal to or greater than 50kW, the FiT will be JPY12 per kWh, decreasing to JPY11.5 per kWh in 2025.
Moreover, the Japanese government plans to conduct four auctions this year for projects exceeding 250kW in capacity, excluding rooftop solar PV systems. The maximum price limits will be JPY9.2, JPY9.13, JPY9.05, and JPY8.98 respectively.
As per BNEF, Japan must significantly raise its installed capacity for solar and wind power generation by over eight times – from 81GW in 2021 to 689GW in 2050 – to achieve its net zero objectives. With this expanded capacity, solar and wind energy will contribute to 79% of the electricity supply, while nuclear power will account for 11%.
Source: PV Tech