Monday, May 27, 2013

Levy planned for rooftop solar systems

By Chryssa Liaggou
The Environment and Energy Ministry is planning to impose an extraordinary levy on photovoltaic systems on rooftops used for the production of electricity (not water heaters) as a result of pressure from the country’s international creditors to bring the electricity market’s deficit down to zero by 2014.  The levy could range between 10 and 15 percent of turnover, but those with low incomes will be exempt.  Total turnover from rooftop solar systems amounts to some 300 million euros per year and is not liable to any taxation due to the incentives given to producers of power from renewable energy source (RES). In the first quarter of the year these producers accounted for total installed capacity of 500 megawatts, or as much as two Public Power Corporation units….To Read More….

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