Japan ups spending on renewable energy

Japan will need renewable energy investments amounting to US$637 billion to completely sever itself from nuclear power.

As a start in this direction, the Ministry of Economy, Trade and Industry asked for US$1.7 billion to develop clean energy for the fiscal year starting April 1. The budget for this fiscal year’s renewable energy projects is US$559 million.

Of the US$1.7 billion, METI wants to allocate US$320 million to develop power grids to promote wind power. It also plans to spend US$225 million to develop wind power, including a floating offshore wind project Japan at Fukushima.

The request also includes US$297 million to develop large- size storage batteries.