Last year, a small town in western Japan tried to introduce the nation’s first ever tax on solar panels. The plan failed, but attempts to increase the fiscal burden on renewables operations have not. More and more Japanese municipalities are keen to introduce taxes on solar and wind operators, both to earn income and control their development. Why?
Speakers: Yuko Inui, partner and member of the Energy and Infrastructure Group at Orrick Herrington & Sutcliffe LLP,
Japan NRG Senior researcher Mayumi Watanabe and Founder Yuriy Humber
After a decade of robust construction, Japan has become the world’s third-biggest operator of solar capacity. The boom, however, is starting to slow as the rapid development has raised concern about the impact on local communities and the environment.
One way that Japanese localities are seeking to control the situation, and earn additional income in the process, is through new taxes that target renewables projects. The latest — and biggest such initiative to date — was announced recently by Miyagi Prefecture in northeastern Japan.
The tax on solar and wind operators sought by Miyagi lawmakers will almost certainly kill off some of the renewables projects in the area. And while the tax has yet to receive approval at the national government level, the impact could be vast.
In this webinar we reviewed:
– Details of the Miyagi tax plan and its immediate, local impact
– Rationale behind this initiative and similar proposals around the country
– National impact from the development
– Measures renewables operators can take to minimize risks