Amid a steady drumbeat of calls for the world’s top polluters to cut emissions and fast, Japan is among the many nations challenged with balancing energy needs and environmental goals.
At the same time, the war in Ukraine and a weak yen have exacerbated Japan’s energy issues, driving up the costs of imported fuel in the resource-poor country and prompting top power companies to raise rates.
Against that backdrop, the nation’s largest power provider announced last fall that it would divert surplus energy from renewables to crypto operations, puzzling some industry experts. And in a country where the share of electricity generated from renewables will become increasingly important as it strives to become carbon neutral by 2050, the move also highlighted the challenge of storing surplus energy.