Japan earmarks $67m for support of geothermal energy development
Geothermal will take a minimal share of the research budget expected to pass soon in Japan, with solar energy being the clear winner.
The Japan Times has recently posted that “The Abe administration decided Wednesday to boost efforts next year to promote renewable energy following the Fukushima nuclear crisis, after the feed-in tariff system, which guarantees above-market rates for selling energy produced from clean sources, ran into trouble only two years after its introduction.”
In order to do so, the same source details that the Japanese government “is expected to secure in the fiscal 2015 budget a total of ¥130.7 billion for various programs to promote research into and use of renewable energy.”
Out of that total, that USD $67m (¥8 billion) will go for the promotion and development of geothermal, taking solar energy the lion’s share of the package since under the feed-in tariff scheme, making it compulsory for all utilities to buy all clean energy at fixed rates, giving it a massive boost and even raising concerns of “overcapacity” blackouts.
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Source: Japan Times