noun
feed-in tariff system; fixed price purchase system
A policy mechanism, often for renewable energy, where utilities are obligated to purchase electricity at a fixed price for a set period. Commonly abbreviated as FIT.
日本では2012年に固定価格買取制度が導入された。
In Japan, the feed-in tariff system was introduced in 2012.
Thanks to the feed-in tariff system, solar power generation spread rapidly.