Turkey has been making significant strides in promoting green energy investments and achieving sustainability goals in recent years. The government has been actively encouraging the transition to renewable energy sources through various incentives and support mechanisms.

Category : Green Energy Investments and Sustainability Goals in Turkey en | Sub Category : Government Incentives for Renewable Energy in Turkey Posted on 2023-07-07 21:24:53

Turkey has been making significant strides in promoting green energy investments and achieving sustainability goals in recent years. The government has been actively encouraging the transition to renewable energy sources through various incentives and support mechanisms.

One of the key initiatives that the Turkish government has introduced to promote renewable energy is the Renewable Energy Support Mechanism (YEKDEM). This incentive program provides guaranteed purchase prices for electricity generated from renewable sources such as wind, solar, hydro, and biomass. The aim of YEKDEM is to create a stable and predictable market for renewable energy investors, thereby attracting more investments in the sector.

In addition to the YEKDEM program, the Turkish government offers various other incentives to support green energy investments. These include tax incentives, grants, and subsidies for renewable energy projects. For example, renewable energy producers are exempt from paying value-added tax on their electricity sales, making investing in renewables more financially attractive.

Furthermore, the government has set ambitious sustainability goals to reduce the country's dependency on fossil fuels and combat climate change. Turkey aims to increase the share of renewable energy in its total electricity generation to 30% by 2023 and 50% by 2030. These targets not only contribute to the fight against climate change but also help to enhance energy security and reduce import dependency.

Overall, the government incentives for renewable energy in Turkey provide a conducive environment for green energy investments and contribute to the country's sustainability goals. By supporting renewable energy projects, Turkey is not only creating a more sustainable energy mix but also fostering economic growth and creating job opportunities in the renewable energy sector.