Publication date: Feb 10, 2024
The FY2025 Feed-In-Tariff (FIT) procurement prices and Feed-In-Premium (FIP) benchmark prices for solar and wind power and other renewable energy sources have been published by the Ministry of Economy, Trade and Industry (METI)’s Procurement Price Calculation Committee.
Most of the solar FIT procurement and FIP benchmark prices for FY2025 will be lower than for FY2024:
- Residential rooftop solar under 10kW: JPY15/kWh (JPY16/kWh in FY2024)
- Residential rooftop solar above 10kW: JPY 11.5/kWh (JPY12/kWh in FY2024)
- Ground-based solar installations above 50kW not subject to bidding: JPY8.9/kWh (JPY9.2/kWh in FY2024)
Solar projects between 10kW and 50kW will stay the same as this year at JPY10/kWh.
The FIT and FIP prices for onshore wind will also be reduced compared to this year, from JPY14/kWh to JPY13/kWh in FY2025.
The committee also announced that the new generator-side wheeling charges, which will be introduced in FY2024, will apply to FIT and FIP projects accredited from FY2024 and onwards. These projects will be subject to a kWh charge calculated based on a national average rate, while a kW charge will be set according to the project’s certified capacity and its operational efficiency.
The volume of electricity procured will be adjusted accordingly, and this adjusted figure, when translated into a per kWh cost, will be factored into both the procurement and baseline prices. This dual-method charging strategy is designed to more accurately capture the costs associated with the generation and procurement of electricity, thereby promoting a more equitable and sustainable energy marketplace.
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