By Chisaki Watanabe - May 20, 2013 7:31 PM PT
Japan’s Ministry of Economy, Trade and Industry plans to provide low-interest loans to companies that borrow residential rooftop space for solar power generation, the Nikkei newspaper reported today.
The ministry plans to make loans available through government financial institutions such asDevelopment Bank of Japan Inc., the newspaper cited Trade Minister Toshimitsu Motegi as saying. Motegi will announce the plan tomorrow in a meeting on industrial competitiveness, according to the paper.
Under the proposal, companies will sell electricity generated from solar panels set up on homeowners’ rooftop spaces, according to the paper. Homeowners will receive 10,000 yen ($97) to 20,000 yen a year for renting out their roofs, it said.
To contact the reporter on this story: Chisaki Watanabe in Tokyo atcwatanabe5@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
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