Came across this article on triplepundit.com regarding some future Japanese initiatives to help boost solar consumption in their country. Tax credits and subsidies = wider adoption = more consumption; always a good thing for green investors.

The Japanese government will introduce tax credits and subsidies to encourage household use of solar energy starting next year. The details will be determined in August when the budget is created. The incentive will decrease the cost of a solar photovoltaic system by an estimated 50% within 3 to 5 years.

Japan & Energy
The country imports a majority of its energy. Japan has virtually no oil or natural gas reserves within its borders and is the 2nd largest importer of crude oil. All of the coal used within Japan’s borders is imported. With 55 nuclear reactors, Japan has the 3rd largest generating capacity behind the US and France.

A mere 9% of Japan’s electricity is generated from hydroelectric power and a majority of the sites with good generating capacity have been exhausted. Although this is the main source of self-sufficient electricity, significantly expanding production is not an option.

Japan’s Climate Change Initiatives
Prime Minister Yasuo Fukuda has shown interest in combating climate change and will be the host of the G-8 summit in August. Japan set a long-term goal of reducing carbon emissions by 60%-80% by 2050. Although the public supports reducing greenhouse gas emissions, Japan is currently not on target to meet the goals created in the Kyoto Protocol. Solar energy can help reduce the production of electricity from fossil fuels, thus reducing emissions.

(via triplepundit.com)