WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 184
MARKET
DATA
Japan aims for carbon neutrality by 2050 with a 2030 milestone: 36-38% share of renewables, 20-22% nuclear power, and reducing coal to 19% and LNG to 20%. The plan includes adding 23 GW of
interregional grid capacity and 777 km of new transmission lines by 2032, with significant investments in offshore wind and new transmission infrastructure.
Electricity sector in Japan is governed by the Electricity Business Act (EBA).
3%
5%
2023 Electricity Mix
CO2 Emissions (million tons of CO2 equivalents)
JEPX is Japan's wholesale electricity exchange acting as an intermediary for
electricity sales between producers and retailers.
1109.3
Energy industry in Japan, which encompasses electric power, gas and other
energy resources, is regulated by the Ministry of Economy, Trade and
Industry (METI)
1108.7
1000
Oil
15%
1038.6
Natural Gas
32%
7%
• Total Electricity Capacity (estimated): 322.6 GW
Hydro
Renewables
Others
8%
• Electricity Consumption: 909 TWh
30%
0
2021
2022
Coal
Nuclear Energy
500
2023
Sources: Statistical Review of World Energy 2024
Generation Capacity- Wind (In GW)
Sources: Statistical Review of World Energy 2024
15
Generation Capacity - Solar (in GW)
10
4%
10
5
5
2023 Electricity consumption by sector
150
108
0
2023
100
2030
87
26%
36%
Industry
Services
Wind
50
Sources: EIA
Households
Others
0
2023
Major Players
Industry Scope
Sales - $Bn
ENEOS Holdings, Inc.
Integrated Oil/Gas
113.1
2035
34%
Sources: Enerdata
Sources: EIA
Petroleum Re昀椀ning
72.6
Electric Power
Generation
• Japan aims to reduce greenhouse gas emissions by 46% by 2030 and strives for a 50% reduction. With a current 20
reduction achieved, Japan is on track to meet its goal.
58.7
Tepco Energy Partner
Incorporated
.
Electric Power
Generation
45.9
• Strategic Energy Plan aims for 36-38% renewable energy, 20-22% nuclear power, and minimal thermal power by
2030,
with coal and LNG at 19% and 20% respectively.
Jera Co. Inc.
.
Oil/Gas Upstream
Operations
35.1
Electric Power
Distribution
30.0
Gas Utilities
24.8
Chubu Electric Power Co.,
Inc.
Tokyo Gas Co., Ltd
Sources:
CO₂ emissions + Electricity mix
https://www.energyinst.org/statistical-review
Energy consumption:
https://yearbook.enerdata.net/electricity/electricity-domestic-consumption-data.html
CO₂ pricing (US$/tCO₂e)
5
4
3
• Japan aims to cut coal from 31% to 19%, petroleum from 4% to 2%, and natural gas from 34% to 20% in electricity
generation by 2030.
2
• Japanese government passed the Hydrogen Society Promotion Act on 17 May 2024, further to which the
government is expected to implement two subsidy schemes commencing in the summer of 2024.
0
Sources:
CO₂ emissions + Electricity mix
https://www.energyinst.org/statistical-review
Electricity consumption by sector
https://www.enerdata.net/estore/energy-market/japan/#:~:text=Total%20Energy%20Consumption&text=Electricity%20consumption%20per%20capita%20
was,2021%20following%20the%20Covid%20crisis.
EIA
https://www.eia.gov/todayinenergy/detail.php?id=61944#:~:text=This%20new%20policy%20calls%20for,promotion%20areas%20(4%20GW).
CO₂ pricing
https://carbonpricingdashboard.worldbank.org/compliance/price
Hydrogen society
Japan - Renewables - Japan's Hydrogen Subsidies Kicking-Off In Summer 2024 (mondaq.com)
2.4
2.2
1.9
1
2022
2023
2024
Sources: World Bank: Carbon pricing dashboard
Sources:
Others
https://www.eia.gov/todayinenergy/detail.php?id=61945
https://powerline.net.in/2023/12/05/green-growth-goals-japans-decarbonisation-strategies/
https://www.japan.go.jp/kizuna/2024/01/together_for_action_ japan_initiatives.html
https://www.statista.com/statistics/745507/japan-share-of-primary-energy-supply/
https://www.jepic.or.jp/pub/pdf/epijJepic2022.pdf
https://www.iea.org/policies/15053-national-budget-2021-on-site-ppa
https://www.jepic.or.jp/pub/pdf/epijJepic2022.pdf
WEMO 2024
Nippon Oil Corporation
Tokyo Electric Power Co.
Holdings, Inc.
184
Japan
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