It will lower the solar FIT to ¥29 ($0.24) per kWh over 20 years for projects approved for development from the start of the next fiscal year on 1 April through to 30 June.
From 1 July, the FIT will be further reduced to ¥27/kWh over 20 years.
The latter rate is nearly 16% lower than the current rate of ¥32/kWh for commercial PV installations.
