Japanese FIT cut nears

Japanese FIT cut nears

The English language website of the Yomiuri Shimbun newspaper stated the government had approved the recommendation of a panel established to set the FIT level for the new fiscal year.

According to the report, the FIT paid to commercial generators – from installations of 10 kWh or more – will be cut by JPY4 (US$0.04) from JPY36 to JPY32/kWh, more in line with Bloomberg New Energy Finance's predictions of a 14% cut than Deutsche Bank's more optimistic 10% call.

Residential FIT falls JPY1

The residential FIT will fall from JPY38 to JPY37/kWh with the falls down to a reduction in the price of solar panels, according to the newspaper report.

Japan has acted as a magnet for solar companies since prime minister Shinzo Abe introduced the world's most generous solar FIT as part of his 'Abenomics' plan to use public money to stimulate a recovery in the nation's economy.

Japanese electrical engineering company Yondenko today announced plans for a JPY 3.1 billion, 12.5 MW solar plant on a former factory site in Kagawa prefecture, in western Japan.

According to a Bloomberg report about the scheme, the company already has a 2.5 MW plant in Kagawa and plans for nine more.

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