Geothermal Isn't Expensive: The Reservoir Always Has the Final Say Somewhere beneath a volcanic ridge, a drill bit is turning through rock that has not moved in two million years. It costs money every second it turns. And nobody on the surface — not the engineer, not the financier, not the minister who announced the megawatts — knows yet whether that well will produce steam or silence. That single moment explains almost everything people get wrong about geothermal energy. Geothermal is routinely described as expensive, slow, capital-hungry and haunted by drilling risk. Investors are reminded that tens of millions can disappear underground before a single megawatt reaches a grid. All of that is true. But it is not the whole truth. The uncomfortable question the industry keeps avoiding is this: is geothermal expensive, or is the way we develop geothermal making it expensive? Those are two completely different problems. One is geology. The other is us. Why Geothermal Refuses to Be...
Japan has taken a bold step forward in the fight against climate change by adopting a plan to maximize the use of nuclear power while ensuring a stable electricity supply. This decision comes amid an energy crisis triggered by Russia's invasion of Ukraine, signaling a significant shift from Japan's previous policy of reducing reliance on nuclear energy after the Fukushima disaster.
The Yomiuri Shimbun / file photo
The Mihama nuclear power plant is seen in Fukui Prefecture on Oct. 26, 2022.
The plan involves building next-generation nuclear reactors to replace decommissioned ones and lifting the freeze on projects to expand, add, or replace reactors. The government will also allow power companies to operate reactors beyond the previously imposed 60-year limit.
The green transformation plan has a target of attracting over ¥150 trillion in public and private investments for decarbonization over the next decade.
This ambitious plan includes the issuance of green transformation transition bonds, which will be redeemed using funds obtained through a carbon-pricing system. Japan is leading the way in the transition to a sustainable future, and with measures like these, it is showing that it is committed to creating a carbon-free society.
This green transformation plan is a bold and ambitious step by the Japanese government to combat the effects of climate change and ensure a sustainable future for the country. With the adoption of this plan, Japan aims to transition towards a carbon-free society while also ensuring a stable supply of electricity in the midst of an energy crisis caused by Russia's invasion of Ukraine.
The government's decision to make maximum use of nuclear power, including building next-generation nuclear reactors to replace decommissioned ones, marks a significant departure from its previous policy of reducing dependence on nuclear energy after the 2011 Fukushima nuclear disaster.
Moreover, Japan's decision to change the rule that limits the operating life of reactors to 40 years and allow power companies to operate them beyond the 60-year limit is a clear indication of its commitment to achieving a carbon-free society.
The green transformation plan also sets a target of achieving over ¥150 trillion in public and private investments for decarbonization over the next ten years. To achieve this goal, the government plans to issue green transformation transition bonds, which will be redeemed through an envisioned carbon-pricing system that collects fees from companies for carbon dioxide emissions.
Furthermore, Japan plans to collect fees from fossil fuel importers based on the amounts of CO2 emissions resulting from fuel use, starting in fiscal 2028. Power companies will also be required to buy emissions credits through emissions trading from fiscal 2033.
Although many of the 3,303 public comments received during the solicitation period were critical of the nuclear policy shift, the government adopted the plan with almost no changes. Industry Minister Yasutoshi Nishimura emphasized that the approval came after over 100 council meetings and discussions in the ruling parties.
The government plans to explain the green transformation plan through various means to deepen public understanding. The adoption of this plan represents Japan's commitment to reducing carbon emissions, mitigating climate change, and achieving a sustainable future.
source:(TheJapanNews)
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