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Japan parliament passes key renewable energy reform

Thu, 08/25/2011 - 10:32pm
Reuters

TOKYO (Reuters) - Laws to promote renewable energy in Japan passed a final hurdle on Friday, with the upper house of parliament formally approving a scheme that investors hope will ramp up spending on solar, wind and other green energy.

The country is struggling to overhaul its energy policies after the March quake and tsunami triggered a nuclear disaster that shattered the public's confidence in the safety of the atomic industry and delayed the restart of idled plants. Costly oil and gas imports have soared.

Lawmakers say a national scheme starting next year that rewards green energy investments is part of the solution to replace lost power generation capacity and move the country away from new nuclear investment.

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