London, England (PressExposure) October 19, 2011 -- The government policy structure and promotional measures for renewables plays a vital role in North and South America renewable energy development. The growth of the renewable energy sector in the US has been led by the state level Renewable Portfolio Standard (RPS), combined with other tax incentives and subsidies. The RPS is a regulation that places an obligation on electricity producers to supply specific percentage of electricity from renewable energy sources. Some states in US have also come with feed in tariffs scheme. These support measures have been very successful in promoting the renewable energy industry in the US, making the country stand among the leaders in both solar and wind technologies.
In Canada, the government is using both ecoENERGY and feed in tariffs scheme to develop the renewable energy sector. Canada uses both ecoENERGY and feed in tariffs to promote renewable.
Mexico and Brazil have a capital subsidy and rebate schemes for further development of renewable energy and different states in these countries also offer feed in tariffs. The different policy measures such as renewable energy act and financial subsidies have given a boost to the renewable energy sectors and it is expected that these promotional measures will continue to drive the growth in the industry.
The US is the market leader in renewable energy development in North and South America. The growth of the renewable energy industry in the US has been driven by the Renewable Portfolio Standard (RPS). Although there are no Federal RPS targets, the RPS set by the US state government is providing a big boost to the renewable energy industry in the country. Production Tax Credits (PTCs) are another important policy instrument that has helped in the development of the renewable energy sector in the US. Other incentives, such as business and residential tax credits, loans, grants and accelerated depreciation provisions, have also provided support to developing renewable energy in the country. In addition to these federal policies, different state governments also offer various state level policies and incentives for the promotion of renewable energy.
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In the US, a state level RPS combined with other tax incentives and subsidies has increased the production of renewable energy considerably. Some states in the US have passed legislation to introduce feed in tariffs. These measures have been instrumental in promoting renewable energy in the US, which has emerged as one of the largest producers of solar and wind power.
"North and South America Renewable Energy Policy Handbook 2011" is the latest policy report from GlobalData, the industry analysis specialists that offer comprehensive information on major policies governing renewable energy market in the region.
The report presents an in-depth analysis of the renewable energy policies across the major countries in North and South America namely the US, Canada, Mexico, Brazil and Argentina. It details the key policy instruments adopted by the US Federal and State governments that led to huge development in the renewable industry. The report also provides insights to major policy initiatives taken up by the US Administration for the market development of renewable energy sources such as wind, solar, geothermal, biopower and biofuels. For Canada, in addition to the federal policies, the report details the policies of the provinces that are leading the renewable energy industry in the country. For other major countries, it provides the current and future renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of their renewable energy industry. The report also provides major technology specific policies and incentives provided in each of these countries.
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