| | Japan’s 24th solar auction concludes with average final price of $0.028/kWh
Japan has allocated 79 MW of PV capacity in its latest procurement exercise. The highest price in the auction was JPY 7.79 ($0.054) /kWh.
July 7, 2025 Emiliano Bellini
Markets
Policy
Utility Scale PV
Japan
Image: Hayashi Kanna, Unsplash
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Japan's Green Investment Promotion Organization has released the final results of its latest auction for utility-scale solar energy projects.
The state-run agency said that 79 MW of PV projects were selected in the procurement exercise. It was Japan's 24th auction for utility-scale solar and was expected to assign 157.8 MW of generating capacity.
The 59 selected projects range in size from 300 kW to 19.5 MW.
The lowest bid was JPY 0.00/kWh and was submitted for around 40 projects with a capacity between 300 kW and 2 MW. These projects have likely already secured a private power purchase agreement for the sale of electricity and participated in the auction to secure grid connection.
The highest bid of JPY 7.79 ($0.054) /kWh was submitted for a 2.6 MW project. The average final price came in at JPY 4.06 ($0.028)/kWh.
In the last nine auctions, the final average price ranged from JPY 4.47/kWh to JPY 9.73/kWh.
In the 23rd auction, the Green Investement Promotion Organization assigned 93 MW of PV capacity at an average final price of JPY 5.06/kWh.
In the 22nd auction round, held in November, the Green Investment Promotion Organization assigned 56.4 MW of PV capacity. The lowest bid came in at JPY 7.5/kWh, while the average final price was JPY 8.17/kWh.
In the 21st auction, held in September, the Japanese authorities allocated 33.6 MW of PV projects at an average final price of JPY 8.08/kWh. The lowest bid came in at JPY 5.0/kWh
In the 20th round, the Japanese authorities allocated 93 MW of PV with final prices ranging from JPY 4.5 to JPY 8.8/kWh, with the average final price reaching JPY 6.8/kWh.
In the previous six rounds, held between March 2024 and March 2022, the lowest prices ranged between JPY 7.94/kWh and JPY 8.85/kWh.
In 2021, the Japanese government allocated 675 MW of PV capacity across three different auctions. In previous auctions, it allocated 942 MW
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