The post-Fukushima shutdown of Japan’s nuclear reactors and subsequent demand for energy self-sufficiency due to costly fuel imports, coupled with the Japanese government’s ambitious emissions reduction targets for 2020, have stimulated growth in new renewable energy sources in the country.
Currently, renewable power accounts for approximately 15% of total electricity generation in Japan, while hydro and solar power occupy a combined 12% share, aided by attractive government subsidies for these technologies.
Although the government has been proactive in recent initiatives to identify and promote potential areas for exploration and development of geothermal power, there has not been any significant development of the technology in the country in the last decade.
In fact, a new whitepaper by Frost & Sullivan underlines that geothermal power contributes a meagre 0.3% to total electricity generation, despite the country possessing the third largest geothermal resource in the world, representing a power generation potential of 23 GW.
While development of the technology at medium and high temperatures is characterised by stagnation, increased investment and technological innovation targeting low-temperature geothermal power (<120?C), historically used primarily for heating purposes, are expected to significantly increase the addressable market potential for geothermal power.
Commenting on this new growth market, Ross Bruton, Programme Manager & Principal for Smart Energy Systems at Frost & Sullivan, emphasised that harnessing the potential offered by low-temperature geothermal power will help achieve Japan's power security and emission reduction goals.
The advent of technological innovations is significantly increasing system performance and cost efficiencies at low temperatures, set to boost uptake levels. Mr Bruton commented: "Additional drivers include multi-application benefits for hot spring (onsen) owners, attractive feed-in-tariffs and grant financing offered by government, relaxation of development restrictions in national parks, and a lack of environmental assessment requirements for small scale geothermal power."
"These drivers, combined with improved cooperation at the community level, is expected to set up low-temperature geothermal power as a potential game-changer in the exploitation of the country's geothermal potential, and marks a contributory step towards the establishment of a stable, low-emission power industry in Japan," he added.
Japan's domestic energy crisis is opening up interesting opportunities for foreign companies to contribute to the national geothermal portfolio. However, companies will need to compete against well-established alternative technologies, such as solar photovoltaic, to gain a foothold in the market.
Utham Ganesh, Research Analyst at Frost & Sullivan, points out that "building strong local and community relations represents a key success criterion for project development, due to the strong cultural values attached to hot springs in the country and the resistance shown for fear of environmental impact."
For further insights into the potential of low-temperature geothermal energy in Japan, read the full whitepaper "Japan Onsen Power – New Horizons for Clean Power Generation from Low-Temperature Geothermal Energy" online and download your complimentary copy here.
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SUMMER STREETS. Pull & Bear has released a new editorial showcasing its latest seasonal fashion offerings and updated its streetwear collection inspired by a MotoGP racer.
Shares of Activision Blizzard took another hit last night in the wake of the firm’s latest financial results.
While the publisher’s net income is on the rise, its revenues, bookings and monthly active users all dipped. Bloomberg reports this caused an 11 per cent drop in its share price.
It follows another blow to Activision’s shares earlier this week, as the backlash around the announcement of mobile outing Diablo Immortal prompted a 6.74% decline. This led to Activision’s lowest close of trading since January.
The financial results brought the firm’s share price down to as low as $55.80 in extended trading.
Bloomberg Intelligence analyst Matthew Kanterman suggests there is pressure for its current titles to perform better than they are, particularly with a lighter release slate predicted for 2019.
While there will inevitably be a Call of Duty next Q4, the only other title Activision has announced for 2019 is From Software’s Sekiro: Shadows Die Twice. If Bungie follows the same schedule is has with Destiny so far, next year will see the launch of another expansion, rather than Destiny 3.
This year’s results suffered somewhat from comparison to the launch of last year’s Destiny 2. Not only was this an expansion year, but Activision admitted the game as a whole has not taken off in the way it hopes. Also, last year saw Crash Bandicoot N.Sane Trilogy dominate retail over the summer.
Activision also faces comparisons to the ongoing phenomenon that is Fortnite and the stunning success of Red Dead Redemption 2, which took $725 million in three days and matched its predecessor’s eight years of sales in eight days.
Read more :
https://www.gamesindustry.biz/articles/2018-11-09-activision-blizzard-shares-drop-a-further-11-per-cent