The Japan Renewable Energy Market Report is Segmented by Technology (Solar Energy, Wind Energy, Hydropower, Bioenergy, Geothermal, and Ocean Energy) and End-User (Utilities, Commercial and Industrial, and Residential). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

The Japanese renewable energy market is characterized by a diverse range of products, including solar panels, wind turbines, hydro generators, biomass boilers, and geothermal heat pumps. Solar PV systems continue to dominate the market, accounting for the largest share of renewable energy installations. Wind turbines are also gaining traction, particularly in offshore locations. Hydropower remains a significant contributor, utilizing Japan's abundant water resources. Biomass boilers and geothermal heat pumps are also witnessing growing demand, driven by government incentives and increasing awareness of environmental sustainability. Recent developments include: April 2023: Octopus Energy Generation invested in Japanese solar power company Yotsuya Capital, launching it into the Asian renewables market. The agreement aims to accelerate the country's energy transition. The company is expected to support Yotsuya Capital in developing 250MW of new solar farms in Japan over the next five years., June 2022: Japan's government disclosed the winner of its 12th solar energy tender. Pacifico Energy KK won the tender for the solar project with a capacity of 76.8 MW. The company was expected to offer a tariff of USD 0.073 per kWh. The project would be located in Yamaguchi prefecture and is expected to be operational by 2027., April 2022: JERA Co. Inc., one of the leading power companies, finalized a deal to develop a 1GW solar plant with West Holdings Corp., one of the top renewable engineering companies. The project was expected to be operational by 2025. The company would likely invest about USD 1.4 billion in the next three years.. Key drivers for this market are: 4., The Growing Demand for Clean Energy Sources4.; Supportive Government Programs and Advancements in Renewable Energy Technologies. Potential restraints include: 4., Increasing Penetration of Natural Gas for Power Generation. Notable trends are: Solar Energy Segment to Witness Significant Growth.

Japan Renewable Energy Market size was valued at USD 79.81 Billion in 2023 and is projected to reach USD 132.09 Billion by 2031, growing at a CAGR of 6.5% from 2024 to 2031.

Japan Renewable Energy Market: Definition/ Overview

Renewable energy is defined as energy obtained from naturally replenished resources such as solar, wind, hydropower, geothermal, and biomass. These sources offer sustainable alternatives to fossil fuels, thereby reducing greenhouse gas emissions and mitigating climate change. Renewable energy is widely used in electricity generation, heating, and transportation, providing power for households, businesses, and industries while encouraging environmental sustainability. As technology progresses and global demand for clean energy rises, the future of renewable energy looks bright, with more investment, advancements in energy storage, and the development of smart grids driving growth.

In the fiscal year 2023, around ** percent of electricity in Japan was generated from natural gas. Renewable energy accounted for almost ** percent of the electricity generation in the country, reaching a peak in the last decade.  Electricity market in Japan  In recent years, the Japanese electricity market was dominated by ten regional electricity companies. Competition remained limited since retailers of low voltage electricity mainly sell their product locally to homes and small shops.  The nuclear disaster in 2011 influenced the electricity market insofar that nuclear energy was replaced by fossil fuels such as natural gas and coal. Since Japan lacks domestic reserves of fossil fuels, it is heavily dependent on imports. This caused a decline in the self-sufficiency rate of primary energy, and an increase in electricity rates for homes shortly after the disaster.  Current energy policy in Japan  To be more independent of fossil fuel imports as well as to reduce its carbon footprint and electric power costs, Japan currently aims to replace fossil fuels with low carbon energies such as nuclear and renewable energy sources. To realize its climate goals, the Japanese government plans to reduce its greenhouse gas emissions by 46 percent, compared to the level of 2013, until 2030. Furthermore, it announced its intention for the country to be entirely emission-free by 2050. In recent years, the share of renewable energy in electricity production increased significantly, with solar and hydropower representing the largest renewable energy sources. Nevertheless, there was international criticism that Japan is unlikely to expand its renewable energy share sufficiently to achieve its climate goals for 2050.

Discover the booming Japan renewable energy market! This in-depth analysis reveals a ¥2 trillion market (2025 est.) with a 3.55% CAGR (2025-2033), driven by government incentives, technological advancements, and growing sustainability concerns. Explore key players, market segments (solar, wind, hydro, etc.), and regional trends. Learn how to capitalize on this exciting opportunity. Recent developments include: April 2023: Octopus Energy Generation invested in Japanese solar power company Yotsuya Capital, launching it into the Asian renewables market. The agreement aims to accelerate the country's energy transition. The company is expected to support Yotsuya Capital in developing 250MW of new solar farms in Japan over the next five years., June 2022: Japan's government disclosed the winner of its 12th solar energy tender. Pacifico Energy KK won the tender for the solar project with a capacity of 76.8 MW. The company was expected to offer a tariff of USD 0.073 per kWh. The project would be located in Yamaguchi prefecture and is expected to be operational by 2027., April 2022: JERA Co. Inc., one of the leading power companies, finalized a deal to develop a 1GW solar plant with West Holdings Corp., one of the top renewable engineering companies. The project was expected to be operational by 2025. The company would likely invest about USD 1.4 billion in the next three years.. Key drivers for this market are: 4., The Growing Demand for Clean Energy Sources4.6.1.2 Supportive Government Programs and Advancements in Renewable Energy Technologies. Potential restraints include: 4., The Growing Demand for Clean Energy Sources4.6.1.2 Supportive Government Programs and Advancements in Renewable Energy Technologies. Notable trends are: Solar Energy Segment to Witness Significant Growth.

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The solar energy market share in Japan is expected to increase by 505.28 terawatt-hour from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 29.78%.

This solar energy market in Japan research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers solar energy market in Japan segmentations by end-user (utility and rooftop) and application (grid-connected and off-grid). The solar energy market in Japan report also offers information on several market vendors, including Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., E Solar, First Solar Inc., Kaneka Corp., Shunfeng International Clean Energy Co. Ltd., SunPower Corp., and Tata Power Co. Ltd. among others.

What will the Solar Energy Market Size in Japan be During the Forecast Period?

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'One of the key factors driving the Argentina solar energy market growth is the increasing demand for electricity.'

Solar Energy Market in Japan: Key Drivers, Trends, and Challenges

The high electricity demand is notably driving the solar energy market growth in Japan, although factors such as the rising adoption of alternate renewable sources may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the solar energy industry in Japan. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Solar Energy Market Driver in Japan

The high electricity demand is one of the key drivers supporting the solar energy market growth in Japan. The households sector showed an increase in energy consumption year-on-year due to the increased time spent at home because of COVID-19 in 2020 and other impacts. Japan's power sector has recorded rising sales by small-scale power retailers over the past five years. The marginal rise, despite the expanding market share, shows that the country's retailers increased direct purchases from power generators to ensure stable supplies in response to government recommendations for preventive measures to avoid power shortages. These increased demands contribute to the adoption of solar energy, which is likely to continue during the forecast period.

Key Solar Energy Market Trend in Japan

The increase in solar PV installations is one of the key trends contributing to the solar energy market growth in Japan. For instance, the new aim was announced by Japan's environment and trade ministries, after the announcement that the country would cut emissions by 46% by 2030 when compared to 2013 levels. Japan aims to hit the target by installing solar panels on 50% of central government and municipality buildings, adding 6GW of capacity, boosting solar on corporate buildings and car parks, which will add 10GW, and adding 4GW in public land and promotion areas in 1,000 Japanese towns and cities. Thus, the Japanese government intends to increase the amount of land available for solar projects while also investing in technology that will make agricultural solar farms easier to implement. Such initiatives will drive market growth during the forecast period.

Key Solar Energy Market Challenge in Japan

The rising adoption of alternate renewable sources is one of the factors hindering the solar energy market growth in Japan. Japan is one of the countries with the most abundant geothermal resources. Geothermal district heating systems might be developed in Japan's snowy regions from Hokkaido to the west coast of Honshu, similar to Iceland, where more than 90% of all homes are heated with geothermal hot water and generate power using Japanese geothermal technology. For instance, in southern Iceland, the Blue Lagoon is a geothermal spa. The spa is situated in a lava field on the Reykjanes Peninsula, in a geothermal power-friendly area, and is fed by water from the nearby Svartsengi geothermal power plant. Thus, the increasing use of alternate renewable resources will decline the demand for solar energy and thereby, hampering the market growth.

This solar energy market in Japan analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the solar energy market in Japan as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of g

The Japan Solar Energy Market Report is Segmented by Deployment (Rooftop, Ground-Mounted, Floating Solar, and Building-Integrated PV), Application (Residential, Commercial and Industrial, Utility-Scale, and Agrivoltaics), and Component (PV Modules Inverters, Mounting and Tracking Systems, Balance-Of-System, and Co-Located Battery Storage). The Market Size and Forecasts are Provided in Terms of Installed Capacity (GW).

The Japanese renewable energy market is projected to exceed USD 25.39 billion by 2025–30, driven by efforts to diversify energy sources and enhance sustainability.

In the fiscal year 2023, the share of renewable energy in electricity generation in Japan reached approximately **** percent. Figures increased compared to around *** percent in fiscal 2011. Main energy sources for electricity generation in Japan The nuclear disaster in 2011 affected the electricity market in Japan insofar that nuclear energy was replaced by fossil fuels. Natural gas and coal represented the energy sources with the largest share of the total electricity production in Japan. Since the archipelago lacks domestic reserves of fossil fuels, it is dependent on imports. This resulted in a declining self-sufficiency rate of primary energy, and an increase in electricity costs for homes shortly after the disaster. To be more independent of fossil fuel imports as well as to reduce greenhouse gas emissions and electric power costs, the country's current energy policy aims to replace fossil fuels with nuclear and renewable energy sources. Renewable energy in Japan In recent years, Japan was one of the largest hydroelectric power generating countries. Solar and hydroelectric power represented the renewable energy sources with the largest share in the electricity production. Since Japan is a mountainous country, there is a lack of space for other renewable power facilities such as wind farms. Wind power currently produces only a small amount of the electricity supply. Therefore, the Japanese government presently supports the expansion of offshore wind farms. In 2020, the Japanese government announced its intention for the country to become entirely emission-free by 2050. Nevertheless, there has been international criticism that Japan is unlikely to expand its renewable energy share sufficiently to achieve this goal.

The Japan solar energy market is experiencing robust growth, driven by the nation's ambitious renewable energy targets, increasing electricity prices, and supportive government policies aimed at reducing carbon emissions. With a Compound Annual Growth Rate (CAGR) exceeding 9.20% from 2019 to 2024, the market demonstrates significant potential. While precise market size figures for 2025 are unavailable, a reasonable estimation based on the historical CAGR and current market trends suggests a market value in the hundreds of millions of USD. The market is segmented by deployment type (rooftop, ground-mounted) and application (residential, commercial and industrial, utility-scale). Rooftop installations are likely to continue dominating the residential segment due to ease of implementation and government incentives. However, the utility-scale segment is expected to experience substantial growth fueled by large-scale solar park projects and government support for large-scale renewable energy initiatives. Major players like Canadian Solar, First Solar, and others are actively competing in this expanding market. Despite strong growth drivers, challenges remain, including land availability for large-scale projects, grid infrastructure limitations, and fluctuating solar energy prices. The forecast period from 2025-2033 anticipates continued expansion, with utility-scale projects becoming increasingly important contributors to overall market value. Further growth will depend on continuous policy support, technological advancements, and successful integration with the existing electricity grid. Addressing the constraints surrounding land acquisition and grid infrastructure will be vital to fully realizing the market’s potential. The competition in the Japanese solar energy market is fierce, with both domestic and international companies vying for market share. Companies such as Canadian Solar, First Solar, SunPower, and Trina Solar are leveraging their technological expertise and established global presence to secure significant contracts. Local players also hold strong positions and benefit from localized knowledge. The success of these companies hinges on their ability to innovate, offer competitive pricing, and navigate the complexities of the Japanese regulatory landscape. Successful market penetration will depend on adapting to evolving consumer preferences and addressing specific needs within each application segment. Future growth will also be shaped by the successful integration of energy storage solutions to mitigate intermittency challenges associated with solar power. Recent developments include: In February 2022, US-based Enfinity Global acquired a USD 1 billion utility-scale solar photovoltaic (PV) power portfolio in Japan., In February 2022, X-Elio closed a financing deal for its Sodegaura solar PV plant in Japan with Societe Generale and ING. The funding will be used for the construction, operation, and management of the 16MW Sodegaura solar PV plant in the Chiba prefecture of Japan in Tokyo Bay., In February 2022, JERA and West Holdings Corporation (West HD) reached heads of agreement on a business alliance to develop solar power generation projects in Japan.. Notable trends are: Ground-mounted to Dominate the Market.

In the fiscal year 2023, the final energy consumption of the industrial and commercial sectors in Japan amounted to approximately ***************, accounting for most of the energy consumption in the country. The transportation sector followed with an energy consumption of about *** exajoules.  Energy mix in Japan After the nuclear disaster in 2011, nuclear energy was replaced by fossil fuels such as natural gas and coal with the largest share of electricity production. To be more independent of fossil fuel imports as well as to reduce greenhouse gas emissions and electric power costs, Japan is currently focusing on replacing fossil fuels with nuclear and renewable energy. In recent years, the share of nuclear energy in electricity generation, as well as the share of renewable energy in electricity production increased. Hydropower constituted the largest renewable energy source. Main polluting sectors in Japan  The energy conversion sector was the main sector to produce carbon dioxide emissions in Japan. Emissions arose here due to fossil fuel combustion for electricity production. The industrial sector constituted the main non-energy related polluting sector. Since Japan is one of the global leaders in the manufacturing industry, most emissions likely arose here due to high energy consumption for production. In recent years, figures indicated a decline in the total greenhouse gas emissions. Nevertheless, there was international criticism that Japan's measures were not sufficient to counteract global warming.

Japan solar energy market valued at USD 6 billion, driven by government incentives, tech advancements, and rising sustainable energy demand, with 100 GWdc PV capacity installed.

The Japan Solar Energy Market size was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 9.20">> 9.20 % during the forecasts periods. Recent developments include: In February 2022, US-based Enfinity Global acquired a USD 1 billion utility-scale solar photovoltaic (PV) power portfolio in Japan., In February 2022, X-Elio closed a financing deal for its Sodegaura solar PV plant in Japan with Societe Generale and ING. The funding will be used for the construction, operation, and management of the 16MW Sodegaura solar PV plant in the Chiba prefecture of Japan in Tokyo Bay., In February 2022, JERA and West Holdings Corporation (West HD) reached heads of agreement on a business alliance to develop solar power generation projects in Japan.. Key drivers for this market are: 4., Increasing Solar Energy Demand4.; Declining Cost of Solar PV Systems. Potential restraints include: 4., Strong Dependence on Prevailing Weather Condition. Notable trends are: Ground-mounted to Dominate the Market.

Discover the latest insights into Japan's power market, a $250B+ industry undergoing a dynamic shift towards renewable energy. Explore market size, CAGR, key players, and future trends shaping this stable yet evolving sector. Learn about the challenges and opportunities presented by this significant market. Recent developments include: May 2024: JERA, a Japanese power utility company, announced plans to invest USD 32.4 billion in the development of renewable energies, LNG, hydrogen, and ammonia by 2035. The company has a target of 35 Mt in annual LNG transaction volumes, 20 GW of renewable energy capacity, and 7 Mt of hydrogen and ammonia.October 2023: J-Power, a major player in the Japanese power sector, unveiled its strategy to shutter two coal-fired power plants at its Matsushima facility in southern Japan. Each of these plants has a capacity of 500 MW. This move aligns with J-Power's goal of curbing carbon dioxide (CO2) emissions by 2025. As the second-largest coal-fired power producer in Japan, trailing only JERA, J-Power is set to permanently close its No.1 plant and temporarily halt operations at the No.2 plant by March 2025. In a bid to enhance efficiency and reduce emissions, J-Power is considering constructing a gasification facility at the No.2 plant, with plans to recommence operations in 2028.. Key drivers for this market are: 4., Declining Price and Installation Cost of Solar PV Systems​4.; Advancements in Renewable Energy Technologies and Supportive Government Initiatives. Potential restraints include: 4., Declining Price and Installation Cost of Solar PV Systems​4.; Advancements in Renewable Energy Technologies and Supportive Government Initiatives. Notable trends are: Thermal Power Generating Source is Expected to Dominate the Market.

The Japan Wind Energy Industry is poised for substantial expansion, projected to reach an estimated market size of approximately $10,500 million by 2025, demonstrating a robust Compound Annual Growth Rate (CAGR) of 13.60%. This significant growth is propelled by a confluence of powerful drivers, primarily the nation's strong commitment to renewable energy targets and a strategic push towards energy independence. The Japanese government's supportive policies, including feed-in tariffs and offshore wind development initiatives, are instrumental in fostering this growth. Furthermore, increasing awareness and adoption of clean energy solutions, coupled with technological advancements that are making wind power more efficient and cost-effective, are further bolstering market expansion. The industry is witnessing a surge in investments, both domestic and international, as major players like Vestas AS, Siemens Gamesa Renewable Energy, and Sumitomo Corporation actively participate in developing new projects. The focus is increasingly shifting towards offshore wind installations, capitalizing on Japan's extensive coastline and the potential for larger, more consistent wind resources. Looking ahead, the market is expected to continue its upward trajectory through 2033. Key trends shaping the landscape include the development of large-scale offshore wind farms, the integration of advanced technologies for grid management and energy storage, and a growing emphasis on sustainability in project development. While the industry faces certain restraints, such as potential grid connection challenges and the need for significant upfront investment, these are being addressed through ongoing infrastructure upgrades and innovative financing models. The market segmentation, particularly by location of deployment, highlights a strong preference for offshore installations, driven by factors like greater resource availability and reduced visual impact concerns compared to onshore alternatives. Companies like Japan Renewable Energy Co Ltd and Eurus Energy Holdings Corporation are at the forefront, actively contributing to the industry's growth and innovation. This dynamic market presents significant opportunities for stakeholders aiming to contribute to a sustainable and secure energy future for Japan. Here's a report description for the Japan Wind Energy Industry, adhering to your specifications: Key drivers for this market are: 4., Increasing Investment in Upcoming Wind Power Projects4.; Favorable Government Policies. Potential restraints include: 4., The Growing Adoption of Alternative Energy Sources Such as Gas-Based Power. Notable trends are: Onshore Segment is Expected to Dominate the Market.

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Renewable Energy Market Size 2025-2029

The renewable energy market size is valued to increase USD 2266.2 billion, at a CAGR of 9.6% from 2024 to 2029. Rise in global energy demand will drive the renewable energy market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 76% growth during the forecast period.
By End-user - Residential segment was valued at USD 1934.50 billion in 2023
By Type - Hydropower segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 108.95 billion
Market Future Opportunities: USD 2266.20 billion
CAGR : 9.6%
APAC: Largest market in 2023

Market Summary

The market encompasses the production and utilization of electricity from renewable sources, such as solar, wind, hydro, and biomass. This dynamic market is driven by the rising global energy demand and the increasing popularity of clean energy technologies as a competitive alternative to traditional energy sources. According to recent reports, renewable energy sources accounted for approximately 27% of global electricity generation in 2020, with solar and wind energy leading the charge. However, the market faces challenges, including the intermittency of renewable energy sources and the high upfront costs of implementation.
Despite these hurdles, opportunities abound, particularly in the areas of energy storage solutions and grid integration. As the market continues to evolve, stakeholders can expect ongoing innovation and advancements in core technologies and applications, service types, and regulatory frameworks, with regional dynamics adding another layer of complexity.

What will be the Size of the Renewable Energy Market during the forecast period?

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How is the Renewable Energy Market Segmented and what are the key trends of market segmentation?

The renewable energy industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Residential
  Industrial
  Commercial


Type

  Hydropower
  Wind
  Solar
  Others


Deployment

  On-grid
  Off-grid


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The residential segment is estimated to witness significant growth during the forecast period.

In the rapidly evolving energy landscape, the market is experiencing significant growth as businesses and residential sectors shift towards sustainable energy sources. Renewable energy production from biomass, wind, hydroelectric power, and solar photovoltaic systems has seen a notable increase, reducing carbon emissions by approximately 15% in 2020 compared to 2015 levels. Furthermore, the market is expected to expand further, with renewable energy investment projected to reach 30% of total energy investment by 2025. Energy audit methodologies, renewable energy certificates, and smart grids integration are crucial components driving the market's growth. Offshore wind farms, wave energy converters, and tidal energy conversion are gaining traction as promising new technologies, while grid stability analysis and energy storage systems ensure a reliable power supply.

The renewable energy sector is also witnessing advancements in onshore wind turbines, geothermal energy extraction, and concentrated solar power, among others. Moreover, the integration of demand-side management, battery energy storage, microgrids development, and pumped hydro storage into the energy infrastructure is essential for optimizing power system performance and ensuring grid modernization projects' success. The market's continuous evolution is essential in addressing the increasing energy demand while minimizing greenhouse gas emissions and promoting sustainable energy sources. In conclusion, the market is experiencing substantial growth, with a projected expansion in investment and production. The integration of various technologies and policies is crucial in ensuring a reliable, efficient, and sustainable energy future.

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The Residential segment was valued at USD 1934.50 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 76% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

See How Renewable Energy Market Demand is Rising

The size of the Power Market in Japan market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 1.27% during the forecast period. The power market in Japan has experienced considerable changes in recent years, influenced by regulatory reforms and the need for energy diversification. Traditionally characterized by regional monopolies, the Japanese electricity sector has witnessed a rise in competition since the initiation of deregulation in 2016. These reforms aimed to improve market efficiency and lower consumer costs by permitting new players to enter the market alongside established utilities. The establishment of retail competition, which allows consumers to select their electricity providers, signifies a substantial departure from the previously insulated market framework. In the wake of the Fukushima Daiichi nuclear disaster in 2011, Japan's energy policy has increasingly focused on renewable energy sources. The government has introduced various incentive programs, including the Feed-in Tariff (FiT) system, to encourage investment in solar, wind, and other renewable technologies. Nevertheless, Japan continues to depend significantly on fossil fuels, especially liquefied natural gas (LNG), due to the closure of numerous nuclear reactors and the gradual advancement in renewable energy adoption. Additionally, Japan is investigating advanced technologies such as smart grids and energy storage solutions to improve grid stability and accommodate a larger proportion of intermittent renewable energy. The transforming power market illustrates Japan's overarching objectives of energy security, sustainability, and market efficiency in the context of a shifting global energy environment. Recent developments include: October 2023: J-Power, a major player in the Japanese power sector, unveiled its strategy to shutter two coal-fired power plants at its Matsushima facility in southern Japan. Each of these plants has a capacity of 500 MW. This move aligns with J-Power's goal of curbing carbon dioxide (CO2) emissions by 2025. As the second-largest coal-fired power producer in Japan, trailing only JERA, J-Power is set to permanently close its No.1 plant and temporarily halt operations at the No.2 plant by March 2025. In a bid to enhance efficiency and reduce emissions, J-Power is considering constructing a gasification facility at the No.2 plant, with plans to recommence operations in 2028., October 2022: Wartsila's technology group supplied gas-fueled engines for the new 100 MW Japanese power plant. The new plant is going to operate with 10 Wartsila 34SG gas engines, replacing a 100 MW combined cycle gas turbine previously located on the site.. Key drivers for this market are: 4., Declining Price and Installation Cost of Solar PV Systems​4.; Advancements in Renewable Energy Technologies and Supportive Government Initiatives. Potential restraints include: 4., Rising LNG Costs and High Reliance on Imports Impact Natural Gas Power Generation. Notable trends are: Thermal Power Generating Source is Expected to Dominate the Market.

The East Asian renewable energy market is segmented by type (solar, wind, hydro, and other types), application (residential, commercial, and utility), and geography (China, Japan, Taiwan, South Korea, and the rest of East Asia). The report offers market size and forecasts for capacity (GW) for all the above segments.

Discover the booming East Asia renewable energy market! This comprehensive analysis reveals a CAGR exceeding 8%, driven by solar, wind, and hydro power. Explore market size projections, key players like JinkoSolar and Trina Solar, and regional trends through 2033. Invest in the future of clean energy in China, Japan, South Korea, and beyond. Recent developments include: May 2022: Lightsource BP, a unit of BP, announced that it would build a 150 MW solar park on around 200 fishery ponds in Budai, Chiayi County, in southwestern Taiwan, in collaboration with Green Rock Energy, with construction starting in June 2023., April 2022: Japan's biggest power company, Jera, and compatriot renewables engineering outfit West Holdings finalized a deal to develop at least 1 GW of solar capacity by the end of 2025 in their domestic market.. Notable trends are: Solar Energy to Dominate the Market.

Japan Solar Energy Market size was valued at USD 11.04 Billion in 2024 and is projected to reach USD 20.73 Billion by 2032, growing at a CAGR of 8.2% from 2026 to 2032.

Japan Solar Energy Market: Definition/Overview

Solar energy in Japan is defined as the use of photovoltaic (PV) devices to capture sunlight and transform it into power. Japan has been a pioneer in the development and deployment of solar energy systems, spurred by the need for sustainable energy sources following the 2011 Fukushima nuclear accident. The country has made major investments in residential and commercial solar systems, with an emphasis on improving solar panel efficiency and grid integration.

Japan's solar energy sector is expected to play a key role in meeting its carbon neutrality goals by 2050. The future of solar energy in Japan includes technological developments such as the integration of solar electricity with energy storage solutions and smart grid technology.