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June 19 2013
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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