Coal Continues as Key Part of Japan's Energy Mix [Yahoo! Finance]
SUMITOMO CORP S/ADR (SSUMY)
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Source: Yahoo! Finance
The 2011 Fukushima disaster upended the nation's power generation, resulting in more reliance on coal and natural gas, both fuels needing to be imported at a substantial cost. The country is adding more renewable energy resources, including offshore wind, but the buildout of solar farms and onshore wind has been limited by the country's lack of land suitable for construction, along with a regulatory system that has been slow to support renewables. Nuclear power from about 50 operating reactors supplied about one-third of Japan's electricity before the nuclear sector was shut down after Fukushima. Coal-fired power generation has grown in importance, even as Japan has a target of having renewable energy account for more than a third of its power generation by 2030 and a goal to achieve carbon neutrality by 2050. According to Statista, Japan as of late last year had 93 coal-fired power plants. Government data shows coal supplies about one-third of the nation's electricity, second only to
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