Market Report on Japan's Renewable Energy Industry
Apr 11, 2018
This market report presents opportunities for foreign companies that are interested in developing renewable energy businesses in Japan. The report includes information on the market size of major renewable energy sources, and a list of foreign companies already entered into the Japanese market.
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- The installed capacity for renewable energy in Japan has grown by 2.5 times since the Japanese government introduced the feed-in tariff (FIT) policy in 2012. Among the major sources of renewable energy, solar power is the fastest-growing source in Japan.
Solar Power: in 2016, Japan’s solar power market was the second largest in the world. Stable growth is expected to continue, with installed capacity projected to reach 100 GW by 2030.
Hydropower: the installed capacity of small to medium-sized hydropower is expected to reach around 24 million kW by 2050.
Biomass Energy: the annual installed capacity of biomass energy in Japan was approximately 4.8GW in 2015, making it the 5th largest biomass market in the world. The Japanese government has set a further target of 32.8TWh by 2030, and has been promoting initiatives to achieve this growth.
Wind Power: the Japan Wind Power Association predicts that in the 15 year period between 2015 to 2030, Japan’s cumulative installed capacity for wind power will grow by 10 times.
- Storage Batteries: the markets of hydrogen power, storage batteries and tidal power are also expected to increase in Japan.