Sources said the cuts are expected to hit levels like in European countries.
The Japanese government has decided to more than halve the country’s solar power feed-in-tariffs by around the mid-2020s, The Japan Times reports, citing unnamed sources.
The move targets to cut electricity bills, which are boosted by the costs of power companies’ solar power purchases from households and other companies.
According to the report, Japan’s Ministry of Economy, Trade, and Industry (METI) aims to cut the price for solar power generated by companies to 7.6 cents (¥8.5) by around fiscal 2022 to 2024, from 16 cents (¥18) per kWh in fiscal 2018, and that for solar power made by households to 9.8 cents (¥11), from 23 cents (¥26) by fiscal 2025 to 2027.
The planned reductions are expected to lower the Japanese tariffs to levels like those in European countries.
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