Abstract
This research paper seeks to explain and analyse the effects of green taxes on investment in renewable energies in the case of the UK. As climate change is challenging the world, different measures and instruments have been implemented to tackle it. The implementation of green taxes on environmental pollution is one example. Even though green taxes aim to reduce greenhouse gas emissions, they also affect investments in renewable energy projects both positively and negatively. Firstly, the topic is seen in the context: The UK energy targets and green taxes are described and the connection between environmental taxes and investments in renewable energies is discussed. This is followed by a discussion and analysis part, which is achieved by collecting and evaluating qualitative and quantitative secondary data that mainly comprises governmental documents, newspaper and academic articles as well as numeric statistics and graphs. It can be seen that on one hand, green taxes, besides cutting on emissions, encourage investment in renewable energies as they put particularly energy intensive organisations under pressure to use more renewable sources, which means that companies will have to change behaviour and fall back on renewables. On the other hand, it can likewise be seen that green taxes come along with negative side effects. This is due to how taxes are implemented and how politicians do not agree on how to handle them. They lead to high energy bills and can have a deterrent effect on investment in renewable energies as companies may choose to obtain more reasonable energy from other countries and sources.
Highlights
The UK is aiming to achieve significant improvement on the energy sustainability measures by increasing theThe European Union (EU) requires its member states share of renewables of its energy mix to 15% and to cut to reduce carbon emissions by setting energy targets for down carbon emissions by 34% by 2020 and further to 2020 and 2050
In order to tackle climate change related issues, the providing efficient, clean and affordable energy, i.e. UK government introduced a number of measures: sustainable energy to the UK citizens and businesses
The UK government announced different excise taxes for various types and sizes of organizations. Among these duties is for instance the Climate Change Levy (CCL), which is a tax on gas, electricity and solid fuel that applies to businesses in the commercial, industrial, agricultural and public services sectors
Summary
The European Union (EU) requires its member states share of renewables of its energy mix to 15% and to cut to reduce carbon emissions by setting energy targets for down carbon emissions by 34% by 2020 and further to 2020 and 2050. In order to tackle climate change related issues, the providing efficient, clean and affordable energy, i.e. UK government introduced a number of measures: sustainable energy to the UK citizens and businesses. The significance of this study arises from the fact that climate change is a global problem that is challenging politicians, which is why the UK government decided to implement green taxes as policy tools to encourage more environmentally friendly behaviour among organisations that emit greenhouse gases. This is to encourage dependence on renewable energy sources that do not emit greenhouse gases. Answering the research question and initially its subquestions, will be put forward by putting the research topic in a literature context, explaining the research methodology and methods, followed by analysing and discussing the collected data and drawing conclusions and recommendations based on our analysis
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