Economic and Energy Outlook of Japan through FY16

Japan saved 3.3 trillion yen in energy imports in FY2014, largely due to the decline in oil prices. In its recently released “Economic and Energy Outlook of Japan through FY16” report, the Institute of Energy Economics, Japan (IEEJ) shares how oil prices and the nuclear re-start will affect Japan’s energy market in the near future.

Japan will look to address the need for a robust energy supply and demand structure. The current oil situation, while fortuitous, is a reminder that the country is still at the mercy of international hick-ups.

For the first time in 55 years, oil dependency in Japan is expected to fall below 40 percent due to the rise of new energies and the renaissance of nuclear. New energies, led by solar, will reach 63 GW capacity by FY2016. The combination of new energies and nuclear is projected to see a 14 percent share in power generation. To find out more, please refer here.

By : Institute of Energy Economics, Japan (IEEJ)