Finance and Credit
 

Fiscal encouragement of renewable energy development: International practices

Vol. 24, Iss. 8, AUGUST 2018

Received: 5 July 2018

Received in revised form: 19 July 2018

Accepted: 2 August 2018

Available online: 29 August 2018

Subject Heading: FISCAL SYSTEM

JEL Classification: H24, H25, O50, Q48

Pages: 1891–1905

https://doi.org/10.24891/fc.24.8.1891

Kormishkina L.A. National Research Ogarev Mordovia State University (MRSU), Saransk, Republic of Mordovia, Russian Federation
kormishkinala@mail.ru

https://orcid.org/0000-0001-6009-3374

Koroleva L.P. National Research Ogarev Mordovia State University (MRSU), Saransk, Republic of Mordovia, Russian Federation
korol.l@mail.ru

https://orcid.org/0000-0002-8375-8524

Importance This article studies the foreign practices of fiscal stimulation of renewable energy development, which can be adapted for Russia.
Objectives The article aims to determine the methods of fiscal stimulation of renewable energy development which are common for foreign countries and investigate the best tax incentive practices in China and the USA.
Methods For the study, we used the reports data of the United Nations Economic Commission for Europe (UNECE), Renewable Energy Policy Network for the 21st Century (REN21), KPMG professional service company, Robinson+Cole LLP, a U.S. law firm, as well as the official website information of the financial authorities of the USA and China.
Results The article presents the results of the study of the provided fiscal measures, most commonly used in foreign countries.
Relevance The international practices studied in the article can be used in Russia to improve the granting of investment tax credit, corporate income tax relief on investment, and the property tax relief on personal income tax, as well as in the development of a mechanism of tax encouragement of professional consumers' activity in the retail electricity market.

Keywords: fiscal incentive, tax incentive, credit against tax, renewable energy, sources

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