Japan Photovoltaic (PV) Market Size, Share, and COVID-19 Impact, By Grid Type (On-Grid, Off-Grid) By Deployment (Ground Mounted, Rooftop, Others Deployment), By End-User (Residential, Commercial, Industrial, Utility-Scale, Other End-User) and Japan Photovoltaic (PV) Market Insights Forecasts to 2030Industry: Semiconductors & Electronics
Japan is the world's fourth largest energy consumer, despite having a population of 120 million, ranking 11th in the world. Oil and coal are the most important energy sources in Japan, accounting for more than 60% of total energy consumption. The use of a large amount of oil and coal for energy has a negative impact on the environment. Carbon dioxide emissions from fossil fuels contribute to global warming. Concerning the environmental issue, Japan has launched a number of projects that promote the use of renewable energy in order to reduce carbon dioxide emissions.
Only 1.3% of the country's total energy consumption in Japan today is derived from renewable sources. Japan intends to speed up the future development of renewable energy even if current renewable energy utilization is still low. Solar energy is regarded as one of the most promising energy alternatives. Photovoltaic (PV) and solar thermal energy are both used to generate electricity. These two solar energy technologies are the focus of solar energy research.
Japan is the fastest-growing PV-promoting country, and it currently leads the global Photovoltaic market. In actuality, Japan manufactures 45% of the world's photovoltaic cells. The advantages of adopting PV include high dependability, minimal maintenance costs, environmental friendliness, adaptability, and less expensive construction. A consumer can also sell excess electricity generated during the day to the utility company.
This research report categorizes Japan Photovoltaic (PV) Market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing Japan Photovoltaic (PV) Market. Recent market developments and competitive strategies such as market expansion, product launch, and development, partnership, merger, and acquisition have all been included to depict the market's competitive landscape. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of Japan Photovoltaic (PV) Market.
Photovoltaic (PV) demand will increase as a result of recent technological advancements and R&D operations for efficient power generation across large scale solar applications. Furthermore, one of the major factors driving the adoption of photovoltaic (PV) systems in the commercial, industrial, and residential sectors is increasing public awareness about the use of low carbon-intensive technologies to reduce carbon footprint.
Government policies that are favorable to the market are expected to drive the market in the forecasted period. For Instance, The Ministry of Economy, Trade, and Industry established the Feed-In Tariff (FIT) programme in 2012 as part of the Special Measures Concerning the Procurement of Renewable Energy by Electric Utilities Act, and it has proven to be one of the most successful ways for Japan to promote renewable energy.
Significant corporate expenditures are also expected to accelerate the growth of ground-mounted solar photovoltaic (PV). Solar Steel began construction on 94 MW of solar energy projects in June 2020. The three photovoltaic (PV) solar power facilities could have powered a total of 47,600 Japanese homes.
The photovoltaic (PV) market, on the other hand, is likely to be hampered by an increase in grid connection challenges and interconnection delays, as well as insufficient grid capacity, which will create a barrier to the construction of new solar farms.
Furthermore, large-scale land-based power generation is required for utility-scale solar photovoltaic (PV) installation. A variety of technological or environmental factors may influence the selection of such land. Solar system installation on such land may have a negative impact on biodiversity and natural areas. Large-scale solar energy generation facilities must also consider land, transportation networks, the effects on nearby residential areas, and the distance from the electrical grid.
COVID 19 Impacts
The COVID-19 has had an impact on a variety of industries, including petroleum and natural gas, industrial production, aviation, the tourist industry, and many others. Due to the pandemic, the Japanese government imposed nationwide lockdowns and restrictions, severely affecting the region's economies, disrupting supply chains, causing delays in many projects, and creating a labor shortage. Many countries' renewable industries rely heavily on trade, mainly from Japan.
- In 2022, the on-grid segment is witnessing the highest growth rate over the forecast period.
Based on grid type, the Japan Photovoltaic (PV) Market is segmented into on-grid and off-grid. The on-grid segment is expected to witness the highest growth rate over the forecast period. On-grid solar photovoltaic (PV) systems employ solar energy to produce electricity while being connected to the utility grid. These systems include everything from modest home systems to enormous utility-scale solar power facilities.
- In 2021, the ground mounted segment is witnessing significant CAGR growth over the forecast period.
On the basis of deployment type, the Japan Photovoltaic (PV) Market is segmented into ground mounted, rooftop, and other deployments. Among these, ground mounted is witnessing significant CAGR growth over the forecast period. Through large corporations such as Mitsubishi and Toshiba, Japan has been at the leading edge of ground-mounted photovoltaic development. The ongoing decrement in operating costs, as well as the country's increasing growth as a result of policy changes such as FiT and a growing emphasis on achieving various capacity targets, are anticipated to aid in the expansion of the ground mounted photovoltaic market.
- In 2022, the utility-scale segment is dominating the market with the largest market share of 35% over the forecast period.
According to end-user, Japan Photovoltaic (PV) Market is divided into residential, commercial, industrial, utility-scale, and other end-user. The utility-scale segment dominates the market with a 35% market share over the forecast period. For many years, utility-scale photovoltaics have been supplying constant, clean electricity at an affordable price. One of the quickest ways to reduce carbon emissions and get Japan on the path to a sustainable energy future is by developing utility-scale photovoltaic solar power. Additionally, a number of utility-scale photovoltaic systems can store energy, which increases grid dependability and flexibility while generating electricity when the sun is not always bright.
The report offers the appropriate analysis of the key organizations/companies involved in Japan Photovoltaic (PV) Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Sharp Solar
- Solar Frontier
- Benart Co., Ltd.
- Gremz Solar Inc.
- Asuka Solar Co., Ltd.
- Kyocera Corporation
- Daishin Denki Co., Ltd.
- Sanyo Electric Co. Ltd.
- Toshiba Corporation
- Arrows Corporation Ltd.
- Ceratech Tsukuba Co., Ltd.
- AOI Energy Solution Co., Ltd.
- Mitsubishi Electric Corporation
- Douchi Kinzoku Industry Co., Ltd.
- Ecology System Project Co., Ltd.
- Mitsubishi Heavy Industries, Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In February 2022, Societe Generale and ING have agreed to finance X-Sodegaura Elio's solar PV plant in Japan. The funds will be used to build, operate, and manage the 16MW Sodegaura solar PV plant in the Japanese prefecture of Chiba in Tokyo Bay.
- In April 2022, JERA Co., Inc. and West Holdings Corporation have finalized a business alliance to develop solar power generation projects in Japan. JERA has also entered into a share purchase agreement with a West HD shareholder to acquire approximately 2.3% of the company's share capital.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented Japan Photovoltaic (PV) Market based on the below-mentioned segments:
Japan Photovoltaic (PV) Market, By Grid Type
Japan Photovoltaic (PV) Market, By Deployment Type
- Ground Mounted
- Others Deployment
Japan Photovoltaic (PV) Market, By End-User
- Other End-User
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