Abstract
The development of new energy is not only an objective need for sustainable development of mankind, but also an important breakthrough for the world to foster new economic growth points. The focus of this article is on what kind of fiscal and tax policies the government implements can better guide the development of new energy and have a more favorable impact on the economy. This paper, taking wind power and solar photovoltaic power industries in the Inner Mongolia as an example, using the dynamic 3ED-CGE model, explored the economic impacts of different financial subsidies and preferential tax policies on new energy enterprises. And then this paper provided suggestions for the formulation of fiscal and tax policies. The study founded that compared with the fixed subsidy mechanism financial subsidies by the fall-off mechanism could be better to promote the growth of GDP, residents' welfare and employment. If the government didn't subsidize the new energy electric power's sales price to network after 2020, it would not have a negative impact. The 15% income tax rate was more effective in promoting the development of economic than 25%. 8.5% and 6% value-added tax rate exerted similar effects on the economy, but 6% value-added tax rate had a significant promotion on optimized adjustment the consumption structure of fossil energy and electric energy.
Highlights
The shortage of energy has been an important problem that plagued the economic development
This paper, taking the Inner Mongolia Autonomous Region wind power and solar photovoltaic power generation industries as an example, studies the influences of different financial subsidies and tax preferences on the economic. It seeks to the appropriate new energy finance and taxation policy to develop the new energy industry, boost economic growth, increase the welfare of the residents, and realize the target of the development of renewable energy development" in 13th Five-Year", "By 2020, the electricity price of the wind power project can compete with the local coal-fired power generation platform, and the PV item price can be equivalent to the electricity price of the power grid." This is a pressing problem for local and central governments
This paper used dynamic 3ED-CGE model to compare the economic impact of different new energy finance and taxation policies
Summary
The shortage of energy has been an important problem that plagued the economic development. This paper, taking the Inner Mongolia Autonomous Region wind power and solar photovoltaic power generation industries as an example, studies the influences of different financial subsidies and tax preferences on the economic. On this basis, it seeks to the appropriate new energy finance and taxation policy to develop the new energy industry, boost economic growth, increase the welfare of the residents, and realize the target of the development of renewable energy development" in 13th Five-Year", "By 2020, the electricity price of the wind power project can compete with the local coal-fired power generation platform, and the PV item price can be equivalent to the electricity price of the power grid." This is a pressing problem for local and central governments. In order to understand the relationship between policy implementation and economic operation, before building the model, the influence mechanism of new energy fiscal and tax policies on the economy is analyzed in advance
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