Japan's proposal to cut the price paid for solar power by 10 percent leaves in place incentives for a boom in installations this year, the industry's lobby group said.
A committee of experts advising the Ministry of Economy, Trade and Industry recommended Monday that the price for solar power be cut beginning April 1, and the payment for wind should remain unchanged. The government must endorse the proposal before it comes into force.
Even at the reduced rates, Japan's support for solar is about three times the incentives offered in Germany and China, two countries that are among the biggest markets for the technology. Japan is likely to be one of the top three markets this year, according to data compiled by Bloomberg.