Japan's Ministry of Economy, Trade and Industry suggested Monday that a rate-setting panel reduce, from April, the price of solar power that regional utilities buy under a feed-in tariff law.
Japan
's
Ministry of Economy, Trade and Industry suggested Monday that a rate-setting
panel reduce, from April, the price of solar power that regional utilities buy
under a feed-in tariff law.
It cited falling costs of solar power generation systems while mooting the cut
at the panel that decides electricity rates.
The ministry also suggested keeping rates for wind, geothermal and other
renewable power at current levels, as there has been no evidence of falling
costs, according to a report presented at the panel.
The feed-in tariff law, which took effect in July 2012, requires all regional
utilities to buy electricity from renewable sources at designated prices and
for specified durations.
This has led to an investment boom in solar farms across
Japan
, but
not in higher investment in other renewable energy projects, mainly due to
fewer regulations for building solar farms.
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