Japan Solar Update: No.92 (Apr 15 ~ 19, 2024)
The Ministry of Economy, Trade and Industry (METI) announced the unit price of the surcharge and the purchase price of renewable energy for FY2024 under the FIT and FIP systems. The surcharge price is set at 3.49 yen/kWh starting from the usage period in April 2024.
<Key points>
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- The purchase prices for PV installations of 10 kW or more on rooftops PV system are 12 yen/kWh (7.89 cents/kWh) for FY 2024 and 11.5 yen/kWh (7.60 cents/kWh) for FY 2025
- The surcharge for FY 2024 increased to 3.49 Yen/kWh (2.31 cents/kWh) from 2.09 Yen/kWh (1.38 cents/kWh) in FY 2023 returning to the same level as FY 2022. Although the increase in purchase costs, etc. was small avoidable costs linked to market prices have decreased significantly as electricity market prices have stabilized.
Purchase prices for PV systems in FY 2024 onward (Unit: Yen/kWh)
| System size | FY 2023 (Reference) | FY 2024 | FY 2025 | |
|---|---|---|---|---|
< 10kW |
16 |
16 |
15 |
|
Ground Mounted 10kW ~ 50kW |
10 |
10 |
10 |
|
Ground Mounted 50kW ~ 250kW |
9.5 |
9.2 |
8.9 |
|
Roof-top 10kW ~ 50kW |
10 |
12 (after October) |
12 |
11.5 |
Roof-top 50kW =< |
9.5 |
|||
- For 10 to < 50 kW systems, the requirements for approving power sources as locally-used power sources for self-consumption have been applied from FY 2020
- Tender in FY 2024 are approved to FIP tender of >=250 kW PV systems (Rooftop systems are excluded)
3.49 yen/kWh, up 2.09 yen/kWh from the previous year, returning to the same level as FY2022
FY 2024 surcharge unit price
*Assumptions for FY 2023 and FY2024 are at the same level with no significant change
Figure 1 Purchase prices for FY 2024 onward under the FIT and FIP programs and surcharge unit price in FY 2024
Source: Press release by METI (March 19, 2024), compiled by RTS Corporation