Japan to bring back solar power subsidy for homes

TOKYO (Reuters) – Japan plans to bring back subsidies for solar panel equipment from January, the Ministry of Economy, Trade and Industry said on Wednesday, as the world’s fifth-biggest emitter struggles to cut its greenhouse gas emissions.

METI said the government would offer 9 billion yen ($99.6 million) in the first quarter of 2009 and possibly more in the fiscal year starting next April to foster use of solar panel equipment in homes.

To meet its long-term goal of cutting greenhouse gas emissions by 60-80 percent from current levels by 2050, the government aims to have more than 70 percent of newly built houses equipped with solar panels by 2020.

Reuters