The 2035 Japan Report: Plummeting Costs of Solar, Wind, and Batteries Can Accelerate Japan’s Clean and Independent Electricity Future

Kenji Shiraishi, Won Young Park, Nikit Abhyankar, Umed Paliwal, Nina Khanna, Toru Morotomi, Jiang Lin and Amol A Phadke

Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series from Department of Agricultural & Resource Economics, UC Berkeley

Abstract: Japan faces a significant energy security risk as it imports nearly all of the fuel used in its power sector, with clean electricity accounting for only 24% of the total. This study shows that, due to the decreasing costs of solar, wind (especially offshore), and battery technology, Japan can achieve a 90% clean electricity share by 2035. This would also result in a 6% reduction in electricity costs, nearly eliminate dependence on imported LNG and coal, as well as dramatically reduce power sector emissions. Additionally, the study finds that Japan’s power grid will remain dependable without the need for new gas capacity or coal generation. To take advantage of these significant economic, environmental, and energy security benefits, strong policies such as a 90% clean electricity target by 2035 and corresponding renewable deployment goals are required.

Date: 2023-02-28
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