In 2023, at a meeting of the Asia Zero Emission Community (AZEC), Japan promised financial and technological support to help other ASEAN countries accelerate decarbonization efforts. The AZEC was founded to share ideas and cooperate to speed up decarbonization in Asian countries. However, Japan remains one of the largest global polluters of carbon dioxide emissions and was criticized for its current policies to prolong the use of fossil fuels.
To become more independent from fossil fuel imports as well as to reduce electricity costs and greenhouse gas emissions, the Japanese government is currently working on restructuring the energy sector. Fossil fuels are to be replaced with low-carbon energy sources such as nuclear and renewable energy. In recent years, the share of renewable energy in electricity production increased to over 20 percent, while the share of nuclear electricity remained low at around seven percent.
The offshore wind farm market will center on floating turbines as well. Offshore wind farms are expected to expand in the future, as the Japanese government passed a bill in 2019 allowing wind farm companies to operate in the country's waters for up to 30 years. Furthermore, it announced plans to install around 30 to 45 gigawatts of offshore wind power by 2040. Wind energy currently only produces a small amount of energy supply in Japan, but the electricity production from offshore wind energy is expected to increase further.
Fossil fuels remained the largest energy sources
After the nuclear disaster in Fukushima in 2011, nuclear energy was replaced with fossil fuels. Natural gas and coal remained the energy sources with the largest share in electricity production. Since the archipelago is highly dependent on imports, this resulted in an increase in electricity costs in the years after the disaster.To become more independent from fossil fuel imports as well as to reduce electricity costs and greenhouse gas emissions, the Japanese government is currently working on restructuring the energy sector. Fossil fuels are to be replaced with low-carbon energy sources such as nuclear and renewable energy. In recent years, the share of renewable energy in electricity production increased to over 20 percent, while the share of nuclear electricity remained low at around seven percent.
Expansion of the renewable energy sector
In recent years, solar power overtook hydropower as the largest renewable energy source in Japan. The generation capacity of solar energy keeps rising since Japan made investments in solar power a priority. In 2015, the Japanese government cut the purchase price of electricity that is generated from solar energy. With the average sales price of solar photovoltaic modules decreasing as well, this resulted in a long-term decline in solar power costs. Since the mountainous island nation has limited space on land, it was one of the first to use floating solar panels.The offshore wind farm market will center on floating turbines as well. Offshore wind farms are expected to expand in the future, as the Japanese government passed a bill in 2019 allowing wind farm companies to operate in the country's waters for up to 30 years. Furthermore, it announced plans to install around 30 to 45 gigawatts of offshore wind power by 2040. Wind energy currently only produces a small amount of energy supply in Japan, but the electricity production from offshore wind energy is expected to increase further.
