Renewables have paid almost UAH 94 billion to the budget of Ukraine for 10 years

According to the State Tax Service of Ukraine, producers of electricity from renewable energy sources transferred UAH 93.62 billion in taxes to the budget from 2009 to 2019, European-Ukrainian Energy Agency reports.

Revenues from value added tax amounts to UAH 57.43 billion, from corporate income tax – UAH 28.24 billion.

In 2019, they paid UAH 19.77 billion to budgets of all levels. This makes the renewable energy sector one of the largest tax payers.

It is noted that last year's coal generation provided three times less deductions to the state budget. The amount of tax revenue from TPPs and CHPs amounted to UAH 6.55 billion in 2019.

In 2019, NNEGC Energoatom paid UAH 16.74 billion in taxes to budgets of all levels at, and Ukrhydroenergo – UAH 3.23 billion.

Over 10 years, coal generation brought to the state budget almost half the amount of resources than the renewable energy sector – UAH 48.24 billion.

“Billions of euros are invested annually in renewable energy. This is one of the few industries that helps to raise funds in Ukraine, and not to withdraw them abroad. With the development of the industry, revenues to the state budget are growing, new jobs are appearing. This industry also shows to the whole world that honest and modern business can exist in Ukraine,” commented Oleksandr Kozakevych, chairman of the Ukrainian Renewable Energy Association.

In terms of foreign direct investment, the renewable energy sector is one of the largest. As of the summer of 2020, the share of foreign investors in the installed capacity of renewables will be more than 30%, and the size of the corresponding investments will reach €2.5 billion. According to Bloomberg New Energy Finance, the total investment for 10 years is €9 billion. The State Energy Efficiency Committee notes that for 2019, €3.7 billion were invested.

“Investors in renewable energy are interested in mutual partnership with the state,” said Oleksandra Humeniuk, director of the European-Ukrainian Energy Agency. “First of all, this implies strict observance of the legislation and the obligations undertaken. At the same time, investors in renewable energy are interested in the stable operation of the power system and will contribute to attracting the necessary know-how, technologies, financing of storages and maneuvering capacities. ”

Recall, the World Bank recommends Ukrainian government to postpone the commissioning of new power plants operating on renewable energy sources.

Earlier it was reported that NEURC presented two scenarios for solving the problem of developing renewable energy sources.

Tags: The Cabinet of Ministers, contracts, renewable energy, NPP, solar energy, wind energy, NNEGC "Energoatom", bio-TPP, legislation, electricity, NEURC, EU, The Minystry of Energy and Coal Mining, feed-in tariff, ETL, electricity market, foreign affairs, Ukrhydroenergo, taxes, ВИЭ, CHP, investments, investors, income, price, agreement, The National Energy and Utilities the Natuonal Regulatory Commission, association, the State Agency on Energy Efficiency, power system balance, ecology, decarbonisation, infrastructure, electricity transmission

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