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09/29/2008 08:12 AM
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Japan Creates Residential Solar Subsidy
SustainableBusiness.com News
Japan will introduce a subsidy for residential solar power systems in an effort to boost its domestic solar business and cut greenhouse gas emissions, according to a Nikkei business daily report from Sunday.
Owners of residential solar systems will be eligible for government subsidies of 200,00 yen, or US$1,887, according to the report. The subsidy is equal to about 10% of the cost of an average system.
Reportedly, the subsidy could go into effect during the current fiscal year and conclude in March 2009.
Japan has set a goal of increasing solar power generation tenfold by 2020 and forty-fold by 2030.
Spain Solar Subsidy Finalized
Spain, which has had the fastest growing solar industry in the world due to generous subsidies, has ratified a proposal to cut the subsidies by more than half, beginning in 2009.
Spain's Cabinet approved a plan to cap subsidies at 500 megawatts (MW) of installed solar capacity in 2009, down from the current level of 1200 MW--a level that has put the government on the hook for millions of euros.
The cap will reduce to 460 MW in 2010, a year in which the Spanish government has set a goal of reaching 3000 MW of installed capacity.
Read the full Reuters coverage.
