RTS Corporation, a think tank specializing in photovoltaic power generation, has been provinding services to support each stage of technology development, dissemination and commercialization of PV power generation for more than 40 years since its establishment in 1983. Our corporate vision is to develop the PV industry and realize making PV a mainstream power source, and our mission is to contribute to the dissemination of PV power generation through supporting the businesses of our clients.
Around the world, policy development, introduction development, and industrial development related to PV power generation are progressing rapidly. The global cumulative PV installed capacity exceeded 1 TW for the first time in 2022, and surpassed 2 TW in just two years.
Countries such as the United States, the EU, China, and India are accelerating the PV introduction through drastic policy enhancements and incentives. In addition, construction of solar cell factories competing for high conversion efficiency technology is intensifying around the world, and efforts to GW-scale mass production of next-generation solar cells, including perovskite solar cells, are also progressing. Furthermore, there are expectations for energy conversion using green hydrogen in the transportation and industrial fields, which have been considered difficult to decarbonize, and the demand for PV power generation as a power source for hydrogen production is expected to increase.
In Japan, under the “GX2040 Vision,” the “Global Warming Countermeasures Plan” and the “7th Basic Energy Plan” have been approved by the Cabinet, raising the renewable energy share target from 36–38% in 2030 to 40–50% in 2040. Regarding PV power generation, the share target of 14–16% in 2030 is expected to nearly double to 23–29% in 2040. This share corresponds to power output of approximately 250 to 350 TWh and installed capacity of 200–280 GWac, positioning PV power generation as the top energy source in Japan. If the 2030 target for PV installed capacity of 120GWac is achieved, the installation capacity added in the decade ending 2040 would be equivalent to the total installation over the nearly 20 years since the start of the FIT program in 2012. Assuming an installation of 75 GWac by 2024, an additional 125–205 GWac will be required over 15 years from 2025 to 2040, meaning an average annual installation of 8–13 GWac, which corresponds to approximately 10–17 GWdc in terms of solar cells.
To achieve these targets, efforts will be made not only to expand PV installations in public facilities, residential areas, factories, warehouses, airports, and railways but also to promote region-led PV deployment utilizing the Global Warming Countermeasures Act. Additionally, the introduction of schemes independent of the FIP system will be expanded. Meanwhile, electricity consumers, including citizens, companies and the national and local governments, are beginning to switch to renewable energy electricity using the PPA model, etc. In addition, the financial sector is also working to strengthen businesses that will lead to the introduction of renewable energy toward the establishment of a decarbonized society. Considering the above, it can be seen that a welcome change in business environment is happening for the PV industry for its self-sustaining development in the future.
The business environment for PV power generation is also becoming increasingly diversified. In addition to the self-consumption-based supply-demand integrated building market and the power generation business market based on electricity sales, new markets are emerging, including installation methods that use sites in a complex manner such as farmland (called “Solar Sharing”, water surfaces (Floating) , and parking lots, as well as building-integrated PV (BIPV) systems and facilities for electric vehicles (EVs). Furthermore, by integrating with power storage systems, new businesses such as virtual power plants (VPPs) and aggregation services for more efficient use of PV power are emerging. As such, PV power generation is greatly broadening its scope.
We Leverage our extensive expertise and experience cultivated over many years in the PV sector. We will continue to provide more effective information and proposals, and consulting services to support our clients’ business growth and deliver results with our entire team.
We are committed to play a key role in creating a sustainable future through contributing to the further development and growth of the PV industry.