Eric Watkins
Senior Correspondent
LOS ANGELES, Jan. 29 -- Japan's Ministry of Economy, Trade, and Industry has established new guidelines aimed at requiring the nation's electric power companies to use renewable energy sources for 1.63% or 16 billion kw-hr of their sales in 2014.
The new guidelines represent a slight rise over the 1.35%, or 12.2 billion kw-hr guidelines for 2010, which were set in 2003. In 2006, the guidelines were 0.5%, while for 2007 they are 0.69%
While the rise to 1.63% is smaller than METI wanted, it reportedly met with opposition from electric power companies, which cited the high costs of promoting power generation from renewable resources.
Reports said one estimate shows that utility companies may have to pay an additional ¥130 billion in fiscal 2014 to meet the new target.
Under a Japanese law established in 2003, five renewable sources—wind, solar power, geothermal heat, biomass, and hydroelectric power—can be used to generate power.
The law aims to promote the use of renewable energy and reduce the emission of carbon dioxide and other greenhouse gases.
Contact Eric Watkins at [email protected].
