Japan Thinks Solar Investment Will Lead It Out Of Recession

Japan wants to grab a third of the world’s solar market share by 2020. This, it hopes, will generate green jobs and kill its economic doldrums. Anything’s possible, we suppose.

Bloomberg: The nation also wants to expand the domestic solar market to as much as 10 trillion yen ($102 billion) in 2020 from the current 1 trillion yen and create 110,000 solar industry jobs, up from 12,000, the trade ministry said in a report today.

Faced with a collapse in exports amid the worst economic crisis since World War II, Japan has targeted growth in the solar industry believing in the potential for job creation and orders for manufacturers. Japan, which had a 47 per cent of the global solar market in 2005, had only 25 per cent by 2007, according to the trade ministry.

“Japan has failed to maintain its market share during the rapid expansion in the global solar market,” Shoji Watanabe, director of the ministry’s new and renewable energy division, told reporters today in Tokyo. “The expansion in the domestic market will help solar-panel manufactures boost their factory operations, making them economically competitive for the export market.”

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