engleski

A Review of Fiscal Incentives for Renewable Energy in European Union Member States

In the past few years, changes in renewable energy markets, investments, industries and policies have been very rapid. The potential of renewable energy resources is enormous since they account for approximately 15 to 20 percent of the world's total energy supply. The objectives of using renewable energy include reduction of CO2 emissions, protection of the environment, improvement in human health and the quality of the physical environment, the creation of a sustainable supply chain for improved and clean energy technologies and its contributions to the environmental aspects of sustainability. The main objective of this paper is to give an overview of current fiscal incentives for renewable energy, as well as the advantages and disadvantages of renewable energy sources. We also conducted a linear regression analysis to investigate the relationship between the primary production of renewable energy and gross domestic product per capita at market prices in European Union member states in the 2006-2015 period. Based upon this analysis, we conclude that there is a positive statistical relationship between the primary production of renewable energy and gross domestic product per capita at market prices in European Union member states in the 2006-2015 period. The average share of renewable energy in gross final energy consumption in European Union member states in the 2006-2015 period was 13.2 percent. By observing renewable energy finance flows we found that the United Kingdom, Belgium and Germany had very high investments in renewable energy in the 2014-2016 period. Using a comparative analysis and an empirical approach, our contribution consists of analyzing and presenting fiscal incentives for renewable energy in the European Union member states where they are the most used, in order to achieve renewable energy development.

fiscal incentives, renewable energy, investment, European Union

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