Policy status:Unknown
Date Effective:1995
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Description:This law establishes the Board for Energy Planning and Control (BEPC). Since 1995, Law 2364 has provided tax exemptions to households buying renewable equipment such as solar water heaters; 75% of the purchase value of renewable equipment can be deducted from taxable income. This legislation incorporates one of the most direct incentives for the development of renewable energy technologies to date. Article 7, paragraph 17 of Chapter B states, “the costs of the purchase and installation of domestic appliances for the use of natural gas and renewable energy sources can be deducted (up to 75%) from the individuals taxable income. This includes installations for common use and the percentage of deduction corresponds to the proportion of ownership for legal entities, 75% or 100% is amortized from profits over a period of years.” It has been estimated that this benefit can yield a real reduction in installation costs of up to 30%.

Last modified: Wed, 29 Aug 2012 14:21:34 CEST