Japan's plan to use more renewable energy to fight climate change hinges on another technology — batteries as big as London buses to be hooked up to the power network at a cost of as much as ¥6 trillion.
The batteries made by NGK Insulators Ltd. and other companies are key to the Ministry of Economy, Trade and Industry's plan because electricity generated from solar and wind power fluctuates according to the weather, not demand. The batteries allow storage of power for release as demand rises.
The government has said Japan will more than triple power from renewable sources by 2020 to 10 percent of total supplies. Analysts say NGK, which spent 25 years developing its sodium-sulfur battery with Tokyo Electric Power Co., may be one of the biggest winners. NGK shares have more than doubled this year as it won orders from Abu Dhabi and France.