Japan approves nuclear phase-out by 2040

The industry group also said it will result in higher greenhouse gas emissions and make it difficult to retain the skilled people needed to maintain current nuclear power facilities.

In the near term, Japan will rely more heavily on thermal power generation because renewable energy is expensive and unstable, the government said in the report, according to a Bloomberg report. As a result, Japan will continue to import oil, coal, and natural gas. (See, Can Japan Thrive Without Nuclear Power?) 

Government officials said many details of the plan, which also includes regulatory reforms on the wholesale and retail electricity markets, still need to be worked out, according to reports. 

In addition to more reliance on natural gas, the plan could also result in increased innovation around clean energy technologies, such as hydrogen and energy storage.

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