Sweden is set to ditch taxes on its
production of solar energy in 2017 in a bid to run entirely on renewable
energy by 2040, the government said on Monday.
Solar energy is currently marginal in
the Nordic nation, accounting for less than 0.1 percent of electricity
production. Sweden relies mostly on hydropower (39 percent) and nuclear
power (36 percent).
The finance ministry said in a statement
that the production of solar electricity for own use would be entirely
exempt from taxes. Electricity providers would meanwhile only be taxed
500 kronor (51 euros) per megawatt hour, which is a 98-percent reduction
from the current level.
“This makes fast investments possible,” Social Democratic Finance Minister Magdalena Andersson said.
The proposal is likely to be adopted by
parliament, with the centre-right opposition having criticized the
minister for her lack of ambition with regards to renewable energy
investments.
The move must also be approved by the
European Commission in Brussels, which aims to boost the EU’s share of
renewable energy to at least 20 percent of consumption.
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