2024 FY Budget for Clean Technologies
Japan has secured a 2024 FY annual budget to promote clean technologies and advance decarbonization. The budget is allocated for measures such as promoting technological advancement through research and development projects, and providing subsidies for companies deploying clean technologies in various areas, including:
- 5.7 billion yen for the improvement of energy efficiency
- 36.2 billion yen for the development of renewable energy such as solar PV, offshore wind, and geothermal
- 25 billion yen for the establishment of a hydrogen supply chain
- 78.5 billion yen for the enhancement of safety and innovation in nuclear power generation
- 29.43 billion yen for the development of CCUS technologies, including recycling of CO2
- 26.1 billion yen for the development of low-carbon vehicles and batteries
Besides this annual budget, the Japanese government has allocated funds for clean technology areas under different projects such as the Green Transformation and Green Innovation Fund.
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Policy types
- Master Energy Plan
- Framework legislation
- Government spending for low-carbon and efficient transport
- Incentives and investments
- Government spending in low-carbon electricity
- Incentives and investments
- Government spending in carbon capture, use and storage
- Incentives and investments
- Government spending in hydrogen
- Incentives and investments
Sectors