March 24, 2017 Read More →

IEEFA Report: Reviewing Japan’s Energy Transition

PV Magazine:

Six years after the Fukushima nuclear disaster, Japan is reaching a critical period in establishing its electricity sector model built on renewables, particularly wind and solar power. Its goal is to pave a low-carbon path to energy security and eliminate a long-term dependency on imported fossil fuels and nuclear energy.

A report released by the Institute for Energy Economics and Financial Analysis (IEEFA) states that the country’s dependence on fossil fuel imports has contributed to a reversal in trade balance from 30 years of trade surplus to a deficit that reached $116 billion in 2014.

Government policies adopted in the wake of the Fukushima disaster in 2011 have favored the replacement of nuclear base load power with a fossil fuel base load — a strategy that has proven costly and resulted in lost opportunities in the development of increasingly available renewable energy, says the report, titled Japan: Greater Energy Security Through Renewables.

However, if it is to deliver on its COP 21 climate pledge, the Japanese government needs to further expand its renewables footprint, the report stresses.

The good news is that the increase in energy efficiency has driven down the electricity demand and thereby opened the door to greater investments in renewable energy. What needs to come in first are prudent policy decisions that could attract vast capital to renewable infrastructure.

IEEFA report: Reviewing Japan’s energy transition

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