Japan to lower prices for solar power purchase

A government panel approved Friday a proposal on new rates in the government's feed-in tariff program that requires power suppliers to purchase electricity from renewable energy sources at fixed prices, according to Jiji Press.The price cut reflected a fall in prices of solar power panels, according to the panel of the industry ministry.Under the new rates, electricity generated at households by solar power will be bought for 37 yen per kilowatt-hour in fiscal 2014 that starts in April, down from 38 yen in fiscal 2013.After hearing public opinions, the ministry plans to adopt the new rates by the end of this month at the earliest.The price of electricity generated at companies by solar power will be lowered by 4 yen to 32 yen for facilities with output of 10 kilowatt-hours or over.