Economy November 24, 2016 | 3:40 pm

Renewables need 40% tax break; neither sun nor wind send bills

Santo Domingo.- A prominent member of the ClimateChange Combat Committee on Thursday urged to reinstate the 40% tax break that wasrepealed from the Renewable Energy Incentive Law, to increase generation fromthose sources.

Enrique de León said the legislation stipulateda 75% tax break for clean energy production projects, using wind and solarsystems.

He said the country receded when Congress, toincrease revenue amended the Renewable Energy Incentives Act in 2012.

The environmentalist said official and privatesectors have discussed ways toward consensus leading to reinstating theincentive. "If that restitution of the incentive to renewable energy is accomplishedthere would be clean and cheaper energy."

He noted that of more than 50 concessions, onlytwo were approved. "If they had been approved, there would be more andcheaper electricity than we have now, because its cost is the capital toinstall it, because neither the sun nor the wind send bills."

De Leon said the presence of such cleanenergy, in addition to reducing CO2, helps humanity reduce the impact ofclimate change. "This type of energy also has an effect for the country toreplace fossils.

"If we succeed in eliminating part ofthe oil, gas and coal imports with renewable energy sources, it would be agreat economy for the country. That’s also the only guarantee of having cheap energy."

Comments