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June 19 2013

After Fukushima, Japan beginning to see the light in solar energy


Across Japan, technology companies and private investors are racing to install devices that until recently they had little interest in: solar panels. Massive solar parks are popping up as part of a rapid build-up that one developer likened to an "explosion."

The boom was sparked by a little-noted government policy, implemented nearly a year ago, that guaranteed generous payments to anybody selling renewable energy, including solar power. Because of that policy, known as a feed-in tariff, investors and analysts say Japan has become one of the world's fastest-growing users of solar energy. This year alone, Japan is forecasted to install solar panels with the capacity of five to seven modern nuclear reactors.

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