February 25th, 2007
The Japanese Trade Ministry has issued a draft report requiring utilities to utilize renewable energy resources for energy generation, to the tune of 16 billion kilowatt-hours a year starting in April 2014, or about 0.5% of Japan's annual electricity supply. Experts claim that utilities are spending 100 billion yen now to comply with the 2010 emission level requirements and that this new regulation may increase that to 130 billion yen (about 1 billion US $).
With no carbon credits being offered or discussed, I am wondering if this regulation would be effective, compared to say, similar moves by the Australian government, who has endeavored to put up industry-friendly carbon emission regulations. Read more here.