Japan is currently utilizing its competitive advantages to lead the rest of the world into the new renewable energy age. Under its revised energy plan, the Ministry of Industry now prioritizes PSCs on Section 0 of its plan wherein Japan aims to develop PSC sections generating 20 gigawatts of electricity equivalent to 20 nuclear reactors by fiscal 2040.
The strategy was designed to be closely aligned with the country’s commitment to net-zero emissions by 2050. At the center of this strategy is Japan’s position as the second-largest iodine producer in the world, a necessary ingredient in the manufacturing of perovskite solar cells.
This would allow an independent supply chain within Japan’s territory, enabling the country to improve its economic security, reduce dependence on foreign origins, and provide forward-looking developments for its domestic industries.