Japan's maiden solar auction drags prices down by almost 25%

The lowest accepted prices was $153.2 per mwh.

According to Reuters, Japan’s first auction for contracts to provide solar electricity pushed prices down by nearly a quarter from a previous system, but the cheapest bid was still more than eight times a record-low achieved recently in overseas markets, government data shows.

The lowest accepted price for solar projects was 17,200 yen ($153.20) per megawatt hour (mwh), according to documents from the Ministry of Economy, Trade and Industry, which handled the auction.

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