Accelerated Depreciation for Environmental Investment
Since 2004 investments in renewable energy technology can benefit from accelerated depreciation. Investors are thus allowed to deduct 100% of the investment after one year of operation. Following the tax deduction declaration the equipment has to operate for at least five years. Otherwise, complementary declarations are obligatory.
Project of Bill to Promote Renewable Energy
The bill was introduced in Congress with the purpose of creating a law for renewable energy, compatible with the existing "Law of Public Electricity Service". This bill also includes non-electrical applications of renewable energy, considered to be fundamental to the development of the nation. Regulatory measures, goals to achieve and financial mechanisms are proposed for the incorporation of renewable energy to the National Electricity System. A program is proposed to apply renewables setting specific targets for participation in the energy mix in the short, medium and long term.