Japan to Support Energy Saving, Storage-Battery Installations

(Bloomberg) — Japan’s Ministry of Economy, Trade and
Industry plans to set aside about 93 billion yen ($779 million)
to help factories and small-sized businesses install devices to
improve energy efficiency.

The ministry is asking for the budget to set up devices
such as light-emitting diode lamps and boilers with better
efficiency, according to a summary of requests included as part
of a supplementary budget for the year ending March 31. It will
be considered by cabinet today.

METI also plans to spend about 81 billion yen in response
to grid issues the country is facing in order to accommodate
more renewable energy.

The ministry wants to help set up energy storage systems at
solar power stations or substations. Parts of the budget will
also be spent to help clean energy producers in the region hit
by the 2011 Fukushima earthquake and tsunami buy equipment,
according to the document. The budget needs parliament’s
approval.

Solar comprises the majority of Japan’s clean-energy
installations since the introduction of an incentive program for
clean energy in July 2012. Some utilities began announcing last
year that their grid capacity is nearing its maximum to absorb
intermittent solar power.

To contact the reporter on this story:
Chisaki Watanabe in Tokyo at
cwatanabe5@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Iain Wilson, Abhay Singh

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us