Japan Clean Energy Market Assessment, By Type [Hydropower and Tidal Power, Wind Power, Solar Power, Geothermal Power, Biomass and Waste, Nuclear Power, Green Hydrogen], By End-user [Residential, Commercial, Industrial, Others], By Region [North, Central, South], Opportunities and Forecast, FY2017-FY2031F

Japan heavily depends on imported fossil fuels, such as liquefied natural gas (LNG), coal, and oil, to satisfy its energy needs. In the fiscal year 2022, Japan spent USD 54.9 billion to import Crude Petroleum, making it the fifth largest importer of this resource worldwide.

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The adoption of clean energy has been driven by declining costs, technological advancements, supportive policies, and increasing public awareness. Individuals, businesses, and governments are adopting clean energy solutions to reduce carbon emissions and improve air quality. Total renewable energy capacity additions in 2022 were 8.99 GW.

Japan heavily depends on imported fossil fuels, such as liquefied natural gas (LNG), coal, and oil, to satisfy its energy needs. In the fiscal year 2022, Japan spent USD 54.9 billion to import Crude Petroleum, making it the fifth largest importer of this resource worldwide. Fossil fuels constituted 72.4% of the total electricity generated in the fiscal year 2023, while Renewable Energy accounted for 20.3% and nuclear power contributed 6.9% to Japan's electricity generation. Consequently, the market is experiencing significant growth due to the country's strong push towards cleaner energy sources, aiming to reduce its reliance on oil imports and improve energy security.

Net Zero Commitment Boosting the Demand for Clean Energy

The Paris Agreement, under the United Nations Framework Convention on Climate Change (UNFCCC), sets the goal of restraining global warming to less than a 2-degree Celsius increase above pre-industrial levels, with additional efforts to limit the rise to 1.5 degrees Celsius. Hence, Japan is one of the 136 nations that has committed to reach net zero emission target by 2050 to limit this rise in temperature by switching to cleaner energy. The 6th Strategic Energy Plan launched in FY 2022 aims to achieve 46% reduction in GHG emissions and a share of renewables and nuclear in the power mix of approximately 36-38% and 20-22%, respectively by FY3031. Hence, strategic shift in clean energy transition is propelling demand for clean energy generation and thereby boosting the market growth.   

Technological Enhancements Improving Solar Panels Efficiency

Japan is making technological advancements to boost investments in large-scale renewable energy projects like rooftop solar installations, laying a strong foundation for reducing its reliance on fossil fuels. As available land for large-scale photovoltaic (PV) systems becomes limited, Japan's PV policy is shifting its focus towards rooftop and commercial PV models. Therefore, leading domestic companies like Trina Solar and JinkoSolar are transitioning from conventional PERC (Passivated Emitter and Rear Cell) solar cells to the more advanced Tunnel Oxide Passivated Contact (TOPCon) technology. This technological upgrade enhances module efficiency and enables improved power density from a given area, positioning it as the next-generation solution. DAS Solar, currently operating 30 GW of TOPCon cell capacity, has plans to expand its operations to 40 GW by the fiscal year 2024, further driving these advancements in the solar panel efficiency domain.   

Government Supporting Investments in Clean Energy

Government expenditure has played a pivotal role in driving the rapid expansion of clean energy investments. Recognizing this, the Japanese Cabinet embraced the green growth strategy in December of the fiscal year 2022. This industrial policy aims to foster a mutually beneficial cycle of economic growth and environmental protection, with the active involvement of the business community. As part of this strategy, a fund amounting to USD 16.87 billion has been established to promote ecological businesses and foster innovation in order to achieve the net-zero targets. Additionally, the implementation of a carbon tax is currently being deliberated.

Moreover, Japan's Ministry of Energy (MoE) has made USD 151 billion in funding available for a range of renewable energy, energy storage, and decarbonization projects until 2030. In a further move, the Japanese Ministry of Economy, Trade, and Industry (METI) has replaced feed-in tariffs (FiTs) for large solar PV projects (>250 kW) with a tendering program, which relieves consumers of surcharge burdens and attracts both foreign and domestic players. Consequently, the government's support through investments and regulatory relaxations is facilitating the establishment of clean energy generation hubs, thereby positively impacting market growth.   

Impact of COVID-19

Despite being one of the world’s third largest economy Japan was heavily impacted by COVID-19. Some of the short-term impacts were severe and there was a slowdown in projects reaching commercial operation due to a combination of physical problems, delivery constraints and financial barriers. To mitigate and revamp the economic slowdown.

However, in April 2020, the Japanese government incorporated renewable energy as part of its USD 992 billion economic stimulus package. This initiative falls within the Development of Resilient Economic Structures category, with an allocation of nearly USD1 billion to encourage corporate power purchase agreements (PPAs) and promote the installation of onsite renewable energy sources. This is complemented by renewable and clean energy capacity addition to increase the share of renewables and nuclear energy in the power mix of 36-38% and 20-22%, respectively by FY 3031. Hence, COVID-19 pandemic resulted in influencing the government to invest heavily in clean energy space to enhance energy security and cut dependency on fossil fuels.

Impact of Russia-Ukraine War 

The global surge in energy prices due to Russia Ukraine war has dealt a particularly serious blow to Japan, which is reliant on imports for most of its energy resources. Japan imported 13.879 million mt of thermal coal from Russia in FY2022, the second highest after Australia, which sent 81.669 million mt of volumes last year. To alleviate the financial burden on households and businesses caused by high electricity bills, the Japanese government has put emphasis on Demand Response (DR) to incentivize energy conservation. Furthermore, the surge in price of crude oil led the government to pursue investment in renewables and clean energy generation to reduce dependency to meet energy demand. Hence, this geo-political conflict helped in driving the market growth.

Japan Clean Energy Market: Report Scope

Japan Clean Energy Market Assessment, Opportunities and Forecast, 2016-2030F”, is a comprehensive report by Markets & Data, providing in-depth analysis and qualitative & quantitative assessment of the current state of the clean energy market in Japan, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities and forecast between 2023 and 2030. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc. 

 

Report Attribute

Details

Base Year of the Analysis

FY2023

Historical Period

FY2017-FY2022

Forecast Period

FY2024-FY2031

Units

Revenue in USD Billion

Segments Covered

Type and End-user

Regions Covered

North, Central and South

Key Companies Profiled

Electric Power Development Co., Ltd., Cosmo Energy Holdings Co., Ltd., Japan Renewable Energy Co., Ltd., JinkoSolar Holding Co. Ltd., Trina Solar Co., Ltd., Solar Frontier K.K., Pacifico Energy K.K., RWE Renewables Japan G.K., Kansai Electric Power Co., Inc. and Tokyo Electric Power Company Holdings, Inc.

Customization Scope

15% free report customization with purchase

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs

Delivery Format

PDF and Excel through email (subject to the license purchased)

 In this report, Japan Clean Energy Market has been segmented into the following categories: 

1.       By Type

1.1.   Hydropower & Tidal Power

1.2.   Wind Power

1.3.   Solar Power

1.4.   Geothermal Power

1.5.   Biomass and Waste

1.6.   Nuclear Power

1.7.   Green Hydrogen

2.       By End-user

2.1.   Residential

2.2.   Commercial

2.3.   Industrial

2.4.   Other

3.       By Region

3.1.   North

3.2.   Central

3.3.   South

Key Players Landscape and Outlook 

The Japanese government is investing in the establishment of offshore wind turbines to lead Japan's energy transition and address multiple challenges faced by the country like limited land availability. Japan has limited land availability due to its geographical constraints. The country's mountainous terrain and densely populated coastal areas make it challenging to find suitable sites for large-scale renewable energy projects, including onshore wind farms. By turning to offshore wind, Japan can tap into its abundant offshore resources, utilizing the vast expanses of sea surrounding the archipelago. Hence, companies operating in Japan Clean Energy market are working alongside the government to help establish offshore wind farms.

For instance, in 2023, a collaborative effort involving several Japanese companies, such as Electric Power Development, Tokyo Electric Power, Chubu Electric, Kawasaki Kisen Kaisha, and Albatross Technology, has been established to undertake the development of a demonstration project for the next-generation floating axis offshore wind turbine. These companies aim to develop a small 20kW experimental floating axis turbine with the objective of reducing cost and enhance the production of energy.    

Key Players Operating in Japan Clean Energy Market 

·         Electric Power Development Co., Ltd.

·         Cosmo Energy Holdings Co. Ltd.

·         Japan Renewable Energy Co. Ltd.

·         JinkoSolar Holding Co. Ltd.

·         Trina Solar Co. Ltd.

·         Solar Frontier K.K.

·         Pacifico Energy K.K.

·         RWE Renewables Japan G.K.

·         Kansai Electric Power Co. Inc.

·         Tokyo Electric Power Company Holdings Inc.

If you can't find what you're searching for or have any custom requirements for Japan Clean Energy Market, you may approach our team at info@marketsandata.com

Table of Contents 

1.       Research Methodology

2.       Project Scope & Definitions

3.       Impact of COVID-19 on the Japan Clean Energy Market

4.       Impact of Russia-Ukraine Wart

5.       Executive Summary

6.       Voice of Customer

6.1.    Market Awareness and Product Information

6.2.    Factors Considered in Purchase Decision

6.2.1.Source Type

6.2.2.Source Feasibility

6.2.3.Government Incentives and policies

6.2.4.Generation Requirement

6.2.5.Grid Connectivity

6.2.6.Price per unit generation

6.2.7.Operational and Maintenance Cost

6.2.8.Green Electricity Guide

6.2.9.Ease of Use

6.2.10.    Technical Support

7.       Japan Clean Energy Market Outlook, FY2017-FY2031

7.1.    Market Size & Forecast

7.1.1.By Value

7.1.2.By Volume

7.2.    By Type

7.2.1.Hydropower & Tidal Power

7.2.2.Wind Power

7.2.3.Solar Power

7.2.4.Geothermal Power

7.2.5.Biomass and Waste

7.2.6.Nuclear

7.2.7.Green Hydrogen

7.3.    By End-user

7.3.1.Residential

7.3.2.Commercial

7.3.3.Industrial

7.3.4.Others

7.4.    By Region

7.4.1.North

7.4.2.Central

7.4.3.South

7.5.    By Company Market Share (%), FY2023

8.       Market Mapping, FY2023

8.1.    By Type

8.2.    By End-user

8.3.    By Region

9.       Macro Environment and Industry Structure

9.1.    Supply Demand Analysis

9.2.    Import Export Analysis – Volume and Value

9.3.    Supply/Value Chain Analysis

9.4.    PESTEL Analysis

9.4.1.Political Factors

9.4.2.Economic System

9.4.3.Social Implications

9.4.4.Technological Advancements

9.4.5.Environmental Impacts

9.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)

9.5.    Porter’s Five Forces Analysis

9.5.1.Supplier Power

9.5.2.Buyer Power

9.5.3.Substitution Threat

9.5.4.Threat from New Entrant

9.5.5.Competitive Rivalry

10.   Market Dynamics

10.1.                     Growth Drivers

10.2.                     Growth Inhibitors (Challenges, Restraints)

11.   Key Players Landscape

11.1.                     Competition Matrix of Top Five Market Leaders

11.2.                     Market Revenue Analysis of Top Five Market Leaders (in %, FY2023)

11.3.                     Mergers and Acquisitions/Joint Ventures (If Applicable)

11.4.                     SWOT Analysis (For Five Market Players)

11.5.                     Patent Analysis (If Applicable)

12.   Pricing Analysis

13.   Case Studies

14.   Key Players Outlook

14.1.                     Electric Power Development Co. Ltd.

14.1.1.    Company Details

14.1.2.    Key Management Personnel

14.1.3.    Products & Services

14.1.4.    Financials (As reported)

14.1.5.    Key Market Focus & Geographical Presence

14.1.6.    Recent Developments

14.2.                     Cosmo Energy Holdings Co. Ltd.

14.3.                     Japan Renewable Energy Co. Ltd.

14.4.                     JinkoSolar Holding Co. Ltd.

14.5.                     Trina Solar Co. Ltd.

14.6.                     Solar Frontier K.K.

14.7.                     Pacifico Energy K.K.

14.8.                     RWE Renewables Japan G.K.

14.9.                     Kansai Electric Power Co. Inc.

14.10.                  Tokyo Electric Power Company Holdings Inc.

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

15.   Strategic Recommendations

16.   About Us & Disclaimer

List of Figure_Japan Clean Energy Market
 

Figure 1. Japan Clean Energy Market, By Value, In USD Billion, FY2017-FY2031F

Figure 2. Japan Clean Energy Market, By Volume, In Gigawatts, FY2017-FY2031F

Figure 3. Japan Clean Energy Market Share, By Type, In USD Billion, FY2017-FY2031F

Figure 4. Japan Clean Energy Market Share, By End-user, In USD Billion, FY2017-FY2031F

Figure 5. Japan Clean Energy Market Share, By Region, In USD Billion, FY2017-FY2031F

Figure 6. By Type Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 7. By End-user Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 8. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2023 

List of Table_Japan Clean Energy Market 

Table 1. Pricing Analysis of Products from Key Players

Table 2. Competition Matrix of Top 5 Market Leaders

Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

Table 4. About Us - Region and Countries Where We Have Executed Client Projects

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