Japanese companies may wait to invest in clean energy technology until the government determines renewable energy tariffs and a framework for deregulating the nation’s power industry, long monopolized by regional utilities.
Renewable energy investments in Japan may double as companies from mobile phone provider Softbank Corp. to battery maker GS Yuasa Corp. take advantage of government payment incentives beginning July 1.
Japan will cut its tariff for purchases of solar power by as much as 12 percent as costs to install systems to generate energy from the sun decline, according to an estimate by Bloomberg New Energy Finance.
Japan’s biggest business lobbyist attacked plans by the government to introduce a tax on carbon emissions next week, saying it will add billions of yen to industry’s energy costs and slow economic growth.
Japan’s new Prime Minister Yoshihiko Noda in his first days in office started to deliver a difficult message to a public still in shock from the Fukushima nuclear disaster: Atomic power is needed to save the economy.
Sparx Group Co., a Japanese asset manager, had its biggest gain in almost two years in Tokyo trading, after winning a contract from the Tokyo Metropolitan Government to start an infrastructure fund that will invest in the nation’s renewable energy industry.
Japan’s lower house of parliament is set to pass legislation to subsidize renewable energy amid a push to reduce dependence on nuclear power, paving the way for Prime Minister Naoto Kan to quit as early as next week.