MADRID: Even as Britain, following a detailed review, mulls the need for increased nuclear capacity, Spain has the bit between its teeth as it champions renewable energy.
Library filed under Taxes & Subsidies from Asia
The lure of China's huge but underexploited market, the government's drive for renewable energy and low production costs for exports to fast-growing bigger markets in the United States and Europe have foreign and domestic firms rushing to set up wind farms or build production plants across the country.
The advantage of investing in a wind turbine [in India] is that 80 per cent of the project cost is considered accelerated depreciation given as a tax benefit for renewable energy during the first year. Editor's Note: Experts estimate that in the USA as much as two-thirds of a wind developer's return on investment is generated by the Production Tax Credit and depreciation allowances. Without these subsidies wind development would be a modest fraction of current levels.