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White Paper: Solar Market in Japan
Japan is the third largest cumulative solar PV capacity in the world with 56 GW, which was 11% of globally total solar PV capacity in 2018 . One of the main reasons why Japanese solar energy grows fast attribute to implement a Feed in Tariff (FiT) scheme in 2012. Japanese solar PV installed capacity reached a peak at 10.8 GW in 2015 and then gradually descend until 2024 because the Japanese government reduce the FiT every year for a reduction in fiscal expenditure. However, JPEA estimates Japanese annual solar PV installed capacity will slightly rise after 2024, which is the result of lower LCOE and more massive grid load. The government is looking to solidify the long term prospects for renewables and is currently rethinking its energy mix to 2050. This project includes the creation of a “next generation” electricity network and addressing issues in the current grid system.Solar Market in Japan.