The Japanese Ministry of Economy, Trade, and Industry (METI) is considering a proposal for a stimulus package that would allocate ¥93 billion (about $779 million) to support installations of energy storage systems by industrial, commercial, and residential customers, as well as a variety of energy efficiency measures, according to a report in Bloomberg.
The METI proposal, which is not yet final, would be included in a supplementary budget measure for the year ending March 31. The budget still needs to be approved by the Japanese parliament. The amount would dwarf the $300 million allocated for storage initiatives last year.
Japan has made a big push to increase its solar photovoltaic (PV) capacity in recent years—its cumulative total at the end of 2014 was around 20 GW—a drive that has caused major headaches for the country’s utilities. Part of the problem is that interconnections between individual utility grids are limited, which handicaps their ability to balance supply and demand nationwide.
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