Solamon Energy Corporation - Solar PV Solutions for Sunbelt Nations -Land of the rising sun flips the switch on

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(Bloomberg) — Japan’s proposed incentives for renewable energy will boost solar panel installations and help wean the nation off nuclear power, industry lobby groups and developers said.

A government panel Wednesday recommended solar power providers earn 42 yen (52 U.S. cents) a kilowatt-hour for the electricity they produce, three times the 13.65 yen charged to industrial and commercial users, according to the Ministry of Economy, Trade and Industry. The preferential rate, known as a feed-in tariff, for solar power was recommended for 20 years.

“The start of the feed-in tariff program will be a major step forward to expand the solar power market,” said Tetsuo Kuba, president of Kyocera Corp., a solar panel maker. “We will expand our businesses in the mega-solar market,” Kuba said in a statement.