No. 138: Install a photovoltaic generation system in new condos (August 20, 2010)

Mitsubishi Estate, one of Japan’s leading real estate companies, decided to install a photovoltaic system in all medium- and large-sized condos it builds. It plans to install a system in a total of 100 condos in 2011. Generated electricity will be used for such common space as parking lots and hallways to reduce the condo’s management cost. The company will collaborate with the electricity supply company in Osaka to install photovoltaic generation panels, each of which has a generation capacity of 5 kW, and electric substation equipment. It costs several million yen to install the system, but the management cost can be reduced by 10%. The company expects that the environment-conscious image and reduced management cost will increase the value of its condos. It plans to apply to the certification agency for the “Green Power Certificate.” The certification will enable it to get an emissions quota in the regulation of total greenhouse gas emissions Tokyo introduced in April this year.