Japan's Ministry of Economy, Trade and Industry has announced an increase to the country's feed-in-tariff (FIT) rates: Starting April 1, utilities will pay 40 yen (approximately $0.48)/kWh for nonresidential PV installations.
However, the ministry will reduce the FIT rates for residential installations from 48 yen/kWh to 42 yen/kWh, due to lower installation costs, according to Bloomberg.
The decision to revise the rates predates Japan's March 11 earthquake and tsunami, the report adds. The proposal was originally made in February.
SOURCE: Bloomberg
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