Japan has a new “green growth strategy."
By 2050, it wants to reach net zero carbon emissions and generate nearly $2 trillion a year in green growth.
How? By the mid 2030s Japan aims to eliminate sales of new gasoline-powered vehicles, replacing them with electric cars.
It’s also looking to reduce the cost of batteries – a key and costly components of electric vehicles.
It also wants to clean up sea-going vessels by switching to cleaner fuels such as hydrogen and ammonia by 2050.
By 2030 Japan wants all new houses and buildings to be built with zero emission technology.
Between now and 2050 Japan’s electricity demand is expected to increase up to 50% due to electrification in industrial, transportation and household sectors.
Japan wants to boost green power in the same time frame; it wants renewable energy sources to account for up to 60% of the nation’s power supply.
This will involve upping offshore wind capacity and annual hydrogen consumption while reducing reliance on nuclear power.