Japanese premier Shinzo Abe, on whom the financial neologism “Abenomics” is based, has unveiled the “third arrow” of his multi-pronged prescription to the economic affliction in Japan. It includes a ¥30 trillion injection in the electricity sector to increase competitiveness and drive renewable energy innovation.
The prime minister also believes fuel cells and batteries for energy storage will be key to a wider integration of variable renewables into the central grid. The path to energy innovation will require the unbundling of transmission and distribution, he added.
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