How much money does Japan spend on energy storage?
For the scheme ‘Support for the introduction of energy storage systems for home, commercial and industrial use’, the Japanese government has allocated around JPY9 billion (US$57.48 million) from the FY2023 supplementary budget.
How big is Japan's battery storage market?
In the commercial space, Japan’s battery storage market was valued at USD 593.2 million in and is projected to reach USD 4.15 billion by . While commercial installations currently dominate revenues, industrial adoption is expected to scale faster. Utility-scale storage is also gaining ground.
What is Japan's energy storage policy?
As policy, technology, and decarbonization goals converge, Japan is positioning energy storage as a critical link between its climate targets and energy reliability. Japan’s energy storage policy is anchored by the Ministry of Economy, Trade and Industry (METI), which outlined its ambitions in the 6th Strategic Energy Plan, adopted in .
Why is Japan focusing on energy storage?
Japan, which targets renewable energy representing 36% to 38% of the electricity mix by and 50% by , is seeking to promote energy storage technologies as an enabler of that goal. At the same time, electricity demand forecasts for the coming years have risen due to the expected increased adoption of AI and the growth of data centres.
How is Japan's energy storage landscape changing?
Japan’s energy storage landscape is shifting, pushed by household demand, corporate ESG mandates, and domestic battery manufacturing. The residential lithium-ion market, projected to grow at a CAGR of 33.9% through , remains one of the fastest-expanding segments.
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