Japan to bring back solar power subsidy for homes

[jpak]

http://www.reuters.com/article/environmentNews/idUSTRE4BN1U820081224

(Reuters) - Japan plans to bring back subsidies for solar panel equipment from January, the Ministry of Economy, Trade and Industry said on Wednesday, as the world's fifth-biggest emitter struggles to cut its greenhouse gas emissions.

METI said the government would offer 9 billion yen ($99.6 million) in the first quarter of 2009 and possibly more in the fiscal year starting next April to foster use of solar panel equipment in homes.

To meet its long-term goal of cutting greenhouse gas emissions by 60-80 percent from current levels by 2050, the government aims to have more than 70 percent of newly built houses equipped with solar panels by 2020.

The government has seen domestic solar demand dry up after it pulled the plug on subsidies in March 2006, hurting solar panel makers' ability to invest in research and expansion abroad.

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[OKIsItJustMe]

1. Japan Stocks Gain on Solar-Power Subsidy, Buybacks; JFE Slumps

http://www.bloomberg.com/apps/news?pid=20601101&sid=aoGWauBQuKOU&refer=japan

Japan Stocks Gain on Solar-Power Subsidy, Buybacks; JFE Slumps

By Patrick Rial and Masaki Kondo

Dec. 26 (Bloomberg) -- Japan stocks rose, headed for a third weekly gain, as the government’s pledge for subsidies lifted solar power-related manufacturers, while companies including Nitto Boseki Co. announced share buybacks.

Ulvac Inc., a maker of solar-cell production equipment, gained 8.4 percent, adding to yesterday’s 19 percent climb after the government said on Dec. 24 it will provide funds to homeowners who install solar panels. Textile maker Nitto Boseki soared 14 percent, even after it reversed its forecast to a loss, on its plan to buy back 17 percent of its shares. JFE Holdings Inc., Japan’s No. 2 steelmaker, sank 6.1 percent after saying it will cut output as demand from automakers dries up.

The Nikkei 225 Stock Average added 107.65, or 1.3 percent, to 8,707.15 as of 12:39 p.m. in Tokyo. The broader Topix index rose 5.77, or 0.7 percent, to 841.79. The Nikkei climbed for a third-straight week, the longest stretch since May, with a 1.4 percent gain, while the Topix increased 0.9 percent.

“The year ahead provides some hopes that markets can continue to rise,” said Naoteru Teraoka, who helps oversee $21 billion at Chuo Mitsui Asset Management Co. “A lot of bad news has been worked into share prices, while there’s a strong feeling that government policies will provide some support.”

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