Since the March 11 earthquake and tsunami severely damaged the Fukushima No. 1 nuclear power plant, faith in renewable energy sources has spread fast in many corners of the world as an emissions-free means of generating electricity. But placing excessive expectations on renewable energy sources could backfire on the Japanese economy and industry.
Major European countries like Germany, Switzerland and Italy have decided to do away with nuclear power. In Japan, major projects have been set afoot in Japan, each to construct a huge photovoltaic power plant to generate more than 1,000 kW of power with solar energy.
A principal impediment to a broader use of solar and other renewable energy sources has been their high costs. With China's entry into the field, such costs have been reduced remarkably and the present anticipation is that 1 kW of electricity can be generated at less than ¥10 within a few years through renewable sources.