Author: Mina Mesbahi & Saori Minamino, Solarplaza
According to RTS, the PV+storage market in Japan falls into two main categories of:
The overviews presented below showcase the 15 centralised PV+storage projects, operational or under construction (some soon to be operational) as per beginning of 2018. The current cumulative capacity of the top 6 operational PV+storage plants in Japan is 44.3 MW. Whereas the estimated cumulative capacity of the PV+storage pipeline is 120 MW.
|#||O/UC||Plant (MW)||Investor||Prefecture||Operational||Storage (MWh)||Storage||Modules||PCS||EPC|
|1||UC||>105||SB Energy & Mitsubishi UFJ Lease & Finance Company||F.O.||F.O.||>30||F.O.||F.O.||F.O.||F.O.|
|2||UC||>95||Tokyu Land Corporation, Mitsubishi UFJ Lease & Finance Company & Green Power Development Corporation||F.O.||F.O.||>30||F.O.||F.O.||F.O.||F.O.|
|3||UC||>65||SB Energy & Mitsubishi UFJ Lease & Finance Company||F.O.||F.O.||>20||F.O.||F.O.||F.O.||F.O.|
|4||UC||>40||Green Power Development Corporation, Aquila Capital & other local institutional investors||F.O.||F.O.||>10||F.O.||F.O.||F.O.||F.O.|
|5||UC||>35||Smart Solar, RISA PARTNERS Inc||F.O.||F.O.||>15||F.O.||F.O.||F.O.||F.O.|
|6||UC||>35||Looop & Green Power Development Corporation||F.O.||F.O.||>10||F.O.||F.O.||F.O.||F.O.|
|7||O||>30||KEPCO& Energy Products||F.O.||F.O.||>15||F.O.||F.O.||F.O.||F.O.|
|8||O||>25||Orix & Solar Frontier||F.O.||F.O.||>15||F.O.||F.O.||F.O.||F.O.|
|10||UC||>20||Smart Solar & Japan Asia Investment||F.O.||F.O.||>10||F.O.||F.O.||F.O.||F.O.|
|11||O||>15||Obayashi Clean Energy||F.O.||F.O.||>10||F.O.||F.O.||F.O.||F.O.|
|13||UC||>5||Japan Asia Investment||F.O.||F.O.||>5||F.O.||F.O.||F.O.||F.O.|
Thus far, it is observed that battery storage has been deployed primarily in regions where it has been technically needed and in a way, born out of forced necessity. Overall, the trajectory of the Japanese solar plus storage looks only bright given the amount of PV+storage capacity to be operational over the coming few years. Furthermore, BNEF has forecasted a global decline of roughly $200 per kWh in Lithium-ion battery prices by 2030. In addition to the shrinking prices of storage technology, the Japanese utilities are forecasted to soon reach their maximum hosting capacity. This will result in curtailment and combining solar with storage can be an immensely valuable measure to mitigate risks, financial or otherwise, associated with curtailment.