Czech lawmakers axe RE support

The Czech capital Prague

The Czech capital Prague

The Czech Republic’s lower house of Parliament has voted to end support for new renewables projects and to extend a tax on existing PV installations from the start of next year, in the latest effort to curb subsidies and reduce rising power prices.

The proposal – which has yet to be approved by the Senate and signed off by President Milos Zeman – will not affect, wind, solar, hydro and biomass operations that receive construction permits this year and are completed before the end of 2014.

In 2010, the government imposed a 26% tax on solar plants to curb a boom. This tax was slated to expire at the end of this year, but will now remain in force, albeit as a lower rate of 10%.

The new law will also require renewable companies to reveal Log in to read complete article.

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