Event Recap: Japan’s FIT: Paving the Way for Renewable Energy Investment
Event Review: Japan’s FIT: Paving the Way for Renewable Energy Investment
Date: July 11, 2012
Speakers: Keisuke Murakami, Luke Eginton, Miguel A. Fernandez,
Minako Wakabayashi, Yoichi Katayama
The ACCJ hosted a panel featuring a presentation by Keisuke Murakami, Director of the New and Renewable Energy Division at METI, on the introduction of the new feed-in-tariff system “FIT” and its projected effects on renewable energy. Murakami is hopeful that the FIT system will help to encourage renewable energy as a greater source of Japan’s future energy needs, noting that renewable energy currently makes up only nine percent of Japan’s total energy usage. Murakami also discussed the obstacles that Japan faces, if it is to build up its renewable energy sources; including the fact that almost 70% of Japan‘s terrain is unsuitable for most renewable projects. Another obstacle Murakami spoke about was the need for Japan to build up its supportive infrastructure so that more renewable project ventures can be started.
After the presentation, the panel discussed Japan’s future market outlook in renewable energy, from both domestic and foreign businesses. The Q&A portion of the luncheon explored some of the underlying political factors affecting renewable energy expansion in Japan and gave valuable insight into where the FIT system is headed in the long run.
