2012-09-12 18:39:17 - Japanese solar market to become the world's second-largest
The Japanese solar market is poised to overtake Italy and become the world´s second-largest, as incentives starting July 1 propel sales. It could eventually top Germany, which currently holds the No. 1 spot.Until now, Europe has had a stronghold on the world solar market but Japan, China, USA and Australia are the major economies that are following Europe in the solar footsteps.Industry Minister Yukio Edano set a premium price for solar electricity that´s approximately triple what industrial users now pay for conventional power. That may spur at least $9.6 billion in new installations with 3.2 gigawatts of capacity.Japan has enormous solar reserves to generate power which can take off the load from fossil fuels and reduce the imports. After the
Fukushima nuclear incident there is no nuclear power generation in the country and hence solar energy becomes a frontrunner in sufficing the power demand of the country.Japan has been involved in solar power development since the early 1990s when the country installed its first solar power plant. It has already become one of the top countries for total solar Photo Voltaic (PV) panels installed and its companies are leading manufacturers of PV solar panels. In 2011, the Japanese market contributed 7% to the world´s total installed solar PV capacity, and has since grown stronger in terms of installed PV. In the same year, it added more than 1 GW in installed capacity for the first time in any given year.For more information on the Japanese solar market, see the latest research: Japanese Solar Power Market ReportFollow us on Twitter @CandMResearch
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