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Investments in renewable energies would retain their accelerated depreciation of 20% until 2035

Investments in renewable energies would retain their accelerated depreciation of 20% until 2035

This week, the Executive Branch sent to the Congress of the Republic a bill so that investments associated with renewable energies maintain the accelerated depreciation of 20% annually – applied to the equipment and works necessary to install a power plant – until 2035.

Bill 6747 comes to extend the benefits established by Legislative Decree 1058 in June 2008, which were, in turn, expanded with a first extension in 2017, thanks to Law 30327.

“This regime allows a maximum depreciation rate of 20% annually applicable to the machinery, equipment and civil works necessary for the installation and operation of the electricity generation plant,” the document maintains.

The Executive maintains that the original fiscal boost proposal gave an “important boost” to the promotion of renewable energies for electricity generation in Peru since 2008, but there was a drop starting in 2015 that was consolidated with the COVID-19 pandemic. 2020.

It should be noted that Peru currently has an investment portfolio of 29 definitive concession projects until 2028, with an estimated disbursement of US$5.6 billion. Its execution would contribute 4,019 MW of power to the national system.

Although Peru has great potential to generate energy from non-conventional renewable sources, the production of electrical energy still depends largely on conventional sources.

“With generation concentrated mainly in the two large sources subject to price and environmental shocks such as natural gas and hydroelectricity, which represented 43% and 50.8% of the production registered in 2022, also observing a low participation of non-conventional renewable sources,” the document states.

Due to its geography, Peru is a country with great potential for the development of renewable energy, given the abundance of energy resources in addition to hydroelectric, such as solar, wind and geothermal: it has a hydroelectric potential of 69,445 MW, an average daily radiation of 250 W/m2, a wind potential of 22,450 MW and geothermal potential of 3,000 MW, “evidencing that there are other alternative sources to natural gas and large hydroelectric plants.”

However, in the region we are one of the countries with the lowest installed capacity to generate electrical energy from clean sources such as renewables. For this reason, solar energy contributes no more than 1.5% to the system, while wind energy does the same with 3.4%.

Source: Larepublica

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