It will get electricity from traditional sources in its first year and then switch to renewables.
TERA Energy, a Buddhist monk-led company in Kyoto, Japan, will start its electricity retail business in western Japan in April 2019, Japan Today reports.
TERA Energy will only sell electricity generated from renewable sources like PV solar panels and small-scale hydropower. However, the company will initially sell electricity from traditional sources.
It expects to expand its services across Japan in 2020. The company will use its temple network to sign contracts with 5,000 households in its first year.
The utility charges will be used for activities that support local communities and management of temples. Moreover, electricity rates will be 2% lower than those of Chugoku Electric Power.
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