The news Today

[Chris]

I keep wondering whether this is good or bad news LOL. The incentives sure are nice. But I keep wondering who needs to be paid what, before one is allowed into the plan. Does anyone know?

1. Renewable energy bill to be law
The Senate has finally passed the bill that provides the legal framework of incentives for investments in renewable energy into law. The Senate approved the energy committee's recommendations as presented by Senator Juan Mercedes Sena. The law is aimed at promoting investment in the renewable energy sector, and allows citizens to take part in projects that reduce the impact of fossil fuel energy generation. Incentives include total tax exoneration for imports, ITBIS, and exchange commission on equipment, machinery and accessories needed to produce renewable energy, as well as a ten-year income tax exemption on income derived from the sale of energy, hot water, steam, bio-fuels, or synthetic fuels. This is valid for companies and individuals importing renewable energy equipment. The bill, that had already passed in the Chamber of Deputies after about seven years of debates, now moves on to the President for signing.

[cobraboy]

Oh, the irony!

So getting rid of excessive import duties and taxation are good for development of the renewable energy sector (which I heartily endorse)?

So what would happen if the excessive import duties and taxation for ALL the different business sectors? Maybe an explosion of economic growth? Also, which I heartily endorse...

[Chirimoya]

I think it was HB (pls correct me if I'm wrong) who said it took a long time to get through because there was so much resistance from powerful interests.

So maybe they've already been paid?

[Hillbilly]

When you consider that there are good wind sites to produce over 200 megawatts of power already identified, and more under feasibility study.
When you consider that there is still plenty of water to be dammed up.
When you consider the amount of acreage available for bio-fuels.
When you consider the possibilities of solar power is this tropical paradise.
When you consider the possibilities of dry forest farming for charcoal (yes you can!)
When you think about the millions being made by the oil companies, well, yes, you could say that seven years was probably their fault....wouldn't you day??

HB

[Keith R]

LOL, ah we're all such a bunch of cynics!

(Actually probably realists)

My concern is whether these incentives will actually go to solar and wind, rather than pay the big agricultural and rum interests to switch production to biofuels... or pay for WTE projects that otherwise would not be viable.

I'm trying to get ahold of the final text to analyze it for the Green Team blog. Anyone have a copy?

[DavidZ]

Does anyone know if there will be any tax or other incentives for individuals to install renewable energy systems in private homes?

[gmiller261]

This is the best news I have heard for the DR in years, short of any other ‘pork barrel’ politics these clowns can come up with.

If this turns out to be true, are there any other ‘green’ minded people in the DR that would be willing to co-op a shipment of solar panels from the US?

I would put up money for 2000 watts and more if the numbers are high enough for discounts.

Any one else? Strength in number.

[Chris]

Perhaps we should wait for the President to sign it first, and then for Keith to analyze the Legislation as well.

Somehow (and I may be stuck in my old ways), I cannot imagine getting to aduana with a load of solar panels and them smiling, signing the paperwork and waving me through without me having to write a check.

[Keith R]

Well, Chris, I think we all know that what the law says and what actually happens in aduana are two distinct things, no matter what the goods in question are...

[Lambada]

Originally Posted by Keith R

I'm trying to get ahold of the final text to analyze it for the Green Team blog. Anyone have a copy?

Its the 109KB pdf on here:
Comisión Nacional de Energía - Rep. Dom.