Renewable energy shines brighter in Japan

Japan Finance Corporation reports a four-fold rise in renewable energy loans.

JFC reported the year-on-year increase for the April to September period, due mostly to the generous feed-in tariff or FIT approved by the government in July.

It extended US$1.7 billion in renewable energy loans in the first half of fiscal 2012. The number of JFC financed projects doubled year-on-year, reaching 925.

JFC is a government financial institution that complements financial activities carried out by private financial institutions and to contributes to the improvement of the quality of national life.

In fiscal 2011, JFC’s main borrowers were real estate companies seeking to install solar panels at condominium complexes under their management. In the current fiscal year, however, loans to small and midsize companies and self-employed people have increased as they began power generation businesses using renewable energy.

In the first half, JFC’s renewable energy loans rose by over 29 times in Kyushu and 11 times in the Kinki region.