The Ministry of Economy, Trade and Industry (METI) will include in its clean-energy strategy a plan to examine support for the promotion of hydrogen and ammonia, which do not generate carbon dioxide (CO2) during combustion. METI’s goal is to reduce hydrogen prices to one-third the current level by 2030. The government has a plan to compensate for the difference between overseas supply prices and the domestic retail price paid by users such as power companies. METI plans to promote corporate investment [in hydrogen] and is rushing to build a supply network.
A meeting will be held on May 13 to present an interim summary of discussions on the clean energy strategy to date.
An enormous investment will be necessary to reduce greenhouse gas emissions to net zero by 2050. METI estimates that private-public investment on the order of 150 trillion yen over ten years will be necessary to realize this goal, and that the annual investment will reach about 17 trillion yen in 2030. The clean-energy strategy will state that government plans to subsidize part of the investment.
METI emphasized the need to support hydrogen and ammonia use, saying that “expansion [of hydrogen use] requires institutional measures.” (Abridged)