Japan Solar Update: No.66 (Oct 9 ~ 13, 2023)
The Ministry ofEconomy, Trade and Industry (METI), the Ministry of the Environment (MoE), and other ministries announced their requests for FY 2024 budget.
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- In the FY 2024 budget requests, the Ministry of Economy, Trade and Industry (METI) significantly increased its renewable energy-related budget toward the realization of GX (Green Transformation), newly allocated 117.1 billion Yen ($ 803 million) for the Project to support the establishment of the GX supply chain including perovskite solar cells, and largely increased the budget for the Project for accelerating the introduction of PV power generation with the initiative of consumers to 15.8 billion Yen ($ 108 million)
- The Ministry of the Environment (MoE) significantly increased the budget for the maximum introduction of renewable energy, by nearly doubling the amount for the Subsidy for transition to local decarbonization and promotion of renewable energy to 66 billion Yen ($ 453 million), and nearly quadrupling the amount for the Project to promote making renewable energy a main power source/ strengthening of resilience by private companies, etc. to 19.3 billion Yen ($ 132 million)
- Other ministries and agencies also allocated budgets for decarbonization. The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) allocated budget for the introduction of renewable energy in public infrastructure facilities and the strengthening of energy-saving measures for houses and buildings, the Ministry of Education, Culture, Sports, Science and Technology (MEXT) allocated budget for the conversion of school facilities into ZEB, and the Ministry of Agriculture, Forestry and Fisheries (MAFF) budgeted the introduction of renewable energy as part of the promotion of the Green Food System Strategy
The Ministry of Economy, Trade and Industry (METI) announced its FY 2024 budget requests. The total amount is 2.4615 trillion Yen ($ 16.9 billion), a 45.7% increase from the FY 2023. METI requested 428.6 billion Yen ($ 2.94 billion) for General Account, 782 billion Yen ($ 5.37 billion) for Special Account for Energy Policy, and 152.5 billion Yen ($ 1.05 billion) for Special Account for Patents, and 1.0985 trillion Yen ($ 7.54 billion) for GX Promotion Measures. As for Support for Establishing GX Supply Chain, METI appropriated 578.5 billion Yen ($ 3.97 billion) for five years and 117.1 billion Yen ($ 803 million) for FY 2024 to support the technological development of perovskite solar cells, etc.
The Ministry of the Environment (MoE) announced its FY 2024 budget requests. The total amount is 787.5 billion Yen ($ 5.4 billion), an increase of 13.9% compared to FY 2023. MoE appropriated 186.2 billion Yen ($ 1.28 billion) for General Account, 198.7 billion Yen ($ 1.36 billion) for Special Account for Reconstruction, 245.5 billion Yen ($ 1.68 billion) for Energy Resources Special Account, and 157.1 billion Yen ($ 1.08 billion) for GX Promotion Measures. As for the GX-related budget, MoE newly requests 15 billion Yen ($ 103 million) out of Energy Resources Special Account for promoting ZEB and CO2 saving of buildings. In addition, MoE requests 66 billion Yen ($ 453 million) for Local Decarbonization Grant, 900 million Yen ($ 6.17 million) for the Project to Consider Accelerating the Introduction of Regional Renewable Energy as a newly established category, and 19.3 billion Yen ($ 132 million) for Support to Accelerate the Introduction of Renewable Energy Facilities Nationwide.