Japan aims to reach 40-50% of its power needs from renewable sources by 2040

According to a draft version of the revised basic energy policy of Japan, it wants nuclear power to make up 20% of its mix of electricity by 2040, while renewable energy will account for 50%. This is part of a push to promote clean energy and meet rising demand.

Japan's basic energy plans, as the second largest importer of natural gas liquefied in the world and a major buyer of Middle Eastern oil are attracting global attention from producers of oil, gas, and coal.

The draft energy policy does specify how coal, oil and gas will be divided up.

The draft stated that "it is essential to use LNG-fired electricity as a realistic way of transitioning, and both the government and private sector must secure long-term LNG agreements in preparation for possible risks such as price increases and supply disruptions."

The draft policy of the Industry Ministry, unveiled Tuesday, proposes that renewables will account for between 40% and 50 percent of all power in 2040. This is roughly double the 22,9% share of 2023 and exceeds the 2030 target between 36% to 38%.

The 2040 target for nuclear power in Japan is on par with the 2030 goal of between 20% and 22.5%, despite the difficulties faced by the industry following the Fukushima catastrophe of 2011. In 2023, nuclear power was responsible for 8.5% the country's electricity supply.

The new energy policy removes the target of "reducing nuclear power to as little as possible". It also includes plans for building innovative reactors of next-generation at nuclear power plants owned by operators that have decided to decommission their existing reactors.

The previous energy plan focused primarily on decarbonisation. However, increased geopolitical risk, such as the Russia-Ukraine conflict, has shifted attention to energy security.

The forecasts for 2040 assume an increase of electricity demand between 12 and 22 percent from levels in 2023. All targets are preliminary.

The updated energy plan does not include specific targets for the fuels.

Last month, the joint meeting between the ministries of industry and environment unveiled a draft plan that called for a 60% reduction in greenhouse gas emission by 2035. This was followed by a 73% reduction by 2040. The strategy is a "linear path" towards net zero emissions by 2050.

The finalised plan will be presented to the United Nations by February.

(source: Reuters)