RE100 urges Japan to triple renewable capacity by ’35

RE100, a global corporate initiative promoting renewable energy procurement, urged the Japanese government on Tuesday to triple its renewable electricity capacity by 2035 compared to 2022 levels.

This call comes as Japan formulates its next basic energy plan to balance energy security and decarbonisation, aiming for carbon neutrality by 2050.

RE100 recommends increasing Japan’s installed renewable capacity from 121 gigawatts (GW) in 2022 to 363 GW by 2035. The initiative also suggests that Japan expedite the development of renewable projects, reduce grid connection times for new installations, and mobilise between 17.9 and 18.1 trillion yen ($112.32-$113.58 billion) in public and private investments for renewables and related technologies between 2025 and 2030.

Despite pledges made at the United Nations COP28 climate summit in Dubai to triple global renewable capacity by 2030, RE100’s head, Ollie Wilson, emphasised the need for concrete actions to meet these commitments and boost Japan’s renewable capacity significantly.

RE100, with over 400 members worldwide, noted that its members find Japan’s market particularly challenging for renewable power procurement due to high costs and limited supply. Members with operations in Japan currently meet only 25 per cent of their electricity needs with renewables, compared to the global average of 50 per cent.

The push for increased renewable capacity aligns with international efforts to reduce reliance on fossil fuels and combat climate change.

Attribution: Reuters.