Japan will introduce a subsidy for residential solar power systems in an effort to boost its domestic solar business and cut greenhouse gas emissions, according to a Nikkei business daily report from Sunday.
Owners of residential solar systems will be eligible for government subsidies of 200,00 yen, or US$1,887, according to the report. The subsidy is equal to about 10% of the cost of an average system.
Reportedly, the subsidy could go into effect during the current fiscal year and conclude in March 2009.
Japan has set a goal of increasing solar power generation tenfold by 2020 and forty-fold by 2030.
Spain Solar Subsidy Finalized
Spain, which has had the fastest growing solar industry in the world due to generous subsidies, has ratified a proposal to cut the subsidies by more than half, beginning in 2009.
Spain’s Cabinet approved a plan to cap subsidies at 500 megawatts (MW) of installed solar capacity in 2009, down from the current level of 1200 MW–a level that has put the government on the hook for millions of euros.
The cap will reduce to 460 MW in 2010, a year in which the Spanish government has set a goal of reaching 3000 MW of installed capacity.
Read the full Reuters coverage.
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