Like shale oil, solar power is shaking up global energy
Solar has become cost competitive in most major economies; costs have fallen 80% in last decade
Tokyo
ONE by one, Japan is turning off the lights at the giant oil-fired power plants that propelled it to the ranks of the world's top industrialised nations. With nuclear power in the doldrums after the Fukushima disaster, it's solar energy that is becoming the alternative.
Solar power is set to become profitable in Japan as early as this quarter, according to the Japan Renewable Energy Foundation (JREF), freeing it from the need for government subsidies and making it the last of the G-7 economies where the technology has become economically viable.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil steadies as ceasefire eludes Hamas, Israel
Shell to exit South Africa's downstream businesses
EU clears Nippon Steel's US$14.9 billion purchase of US Steel
Asian central banks, consumers flock to gold amid currency weakness, macro uncertainty
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Indonesia's PGN, Freeport sign gas supply deal for smelter