The Japanese government recently introduced a system whereby electric utility operators are obligated to purchase electricity produced by solar farms and other renewable sources at fixed prices. The system started on July 1, 2012. In order to benefit from the program, suppliers must obtain approval by the Ministry of Economy, Trade and Industry (METI).
Under the feed-in tariff (FIT), utilities will enter into 20-year terms with solar power suppliers. The purchase price of solar power is expected to be set at 42 Yen per kilowatt-hour.
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