Tue Jun 26th, 2012 at 05:27:16 AM EST
Courtesy of Sustainable Business News, hat tip to Daily Kos diarist Lawrence's diary, Japan about to experience Huge Renewable Energy Boom!
This weekend, Japan approved re-starting two nuclear reactors despite mass public opposition at the same time as announcing pricing for the country's landmark renewable energy feed-in tariff (FiT).
Solar stocks rallied on the premium price that will be paid for solar, which many think will boost Japan to the world's largest solar market.
The FiT could spur at least $9.6 billion in new solar installations with 3.2 gigawatts (GW) of capacity, around the output of three nuclear plants, forecasts Bloomberg New Energy Finance.
Japan's FiT will no doubt shore up the world's solar manufacturing industry, but Japanese business groups worry it will raise utility bills and slow economic recovery.
The FiT requires utilities to pay $0.53 cents per kilowatt-hour for 20 years for solar, triple that of China's and almost double that of Germany.
Greenwashing, better than nothing, or a real step in the right direction?
front-paged with edit by afew