Japan's METI seeks to expand support for energy-saving efforts

[TOKYO] Japan's Ministry of Economy, Trade and Industry (METI) is seeking to allocate 206 billion yen (S$2.72 billion) to promote energy saving efforts among industries and households for the year starting April 1, or an increase of almost 33 per cent compared with the previous year.

The ministry is also requesting 42.5 billion yen to expand clean energy in Fukushima, the site of the 2011 nuclear disaster, according to a ministry document.

Part of the allocation will support installing grids for wind farms and developing technologies to produce hydrogen using renewables as an energy source.

The ministry plans to set aside 10.4 billion yen to subsidise the installation of fuel cells, up from 9.5 billion yen a year ago.

The next fiscal year's budget will cover larger fuel cells for industrial use in addition to residential fuel cells, according to the document.

Meanwhile, the Ministry of the Environment is seeking 7.5 billion yen to promote the use of clean energy in local communities, according to a ministry document. It's also planning to set aside 250 million yen to examine the feasibility of introducing carbon pricing in Japan.

BLOOMBERG