Japan’s public and private sectors will need to invest a total of 150 trillion yen ($1.2 trillion) in decarbonisation over the next 10 years to help achieve the nation’s ambitious goal of becoming carbon neutral by 2050, the industry ministry said on Friday.

The estimate was unveiled as part of an interim report on the country’s clean energy strategy which is expected to be finalised later this year.

“A great competition has already begun in which first movers have an advantage in the decarbonisation area,” Koichi Hagiuda, Japan’s Minister of Economy, Trade and Industry, told a panel of specialists which has been discussing the strategy.

Japan Needs to Invest $1.2 Trillion in Decarbonisation Over 10 Years | Devamı>>>

For the first time since the creation of the Innovation Fund, the European Union is investing 118 million euros into 32 small innovative projects located in 14 EU Member States, Iceland and Norway.

The grants will support projects aiming to bring low-carbon technologies to the market in energy-intensive industries, hydrogen, energy storage and renewable energy. In addition to these grants, 15 projects will benefit from project development assistance worth up to 4.4 million euros, with the aim of advancing their maturity.

EU Invests 122 Million Euros in Innovative Low-Carbon Projects | Devamı>>>

Combining wind power, solar energy, batteries and in future even electrolysers, allows hybrid parks to be more cost effective by sharing infrastructure such as roads, grid connections or substations and even support the grid stability.

Hybrid parks can be custom-designed or retro fitted to existing assets to combine multiple technologies, such as wind turbines, solar panels, batteries and electrolysers to produce, store or use fossil-free energy in one location.

‘Combining Wind Power’ Solar, Batteries and in Future Even Electrolysers | Devamı>>>