dena-subsidy Overview Photovoltaics. Issue July PDF Free Download

s. Issue July 2014.

s Table of Contents Belgium... 8 Brazil...15 Denmark... 20 France... 22 Germany... 43 India... 55 Mexico... 65 Netherland... 70 Poland... 75 South Africa... 79 Turkey...81 Ukraine... 83 United Kingdom... 89 USA / Califonia... 96

s General Overview Country Population (1) Population density (2) GDP per capita (3) Electricity price for Solar radiation (5) Conditions of private hh* (4) s Support programmes Solar building obligations Tax deductions (in m) (persons per km²) (in 1.000 ) (in ct/kwh) (kwh/m²) name, amount, duration name, amount, duration name,, duration name,, duration Belgium 11.16 367 29.5 15.8 Bruges: 1,052 Charleroi: 1,039 1. Brussels Capital and Wallonia: Green certificates, quota and certificate details depend on the region (since 07/2003, unlimited) 2. Flanders: Green electricity certificates, ct 9-25 per kwh (since 01/2006, unlimited) 3. Net-metering (Wallonia): for plants 10 kw (since 07/2007, unlimited) according to region (for details see country profile) none none Brazil 11.7 (2011) 730 2,350 none none none 1. Exemption from the tax on the 198.7 (2012) 6 23 (2011) 7 USD 11.0 (2013) 8 circulation of merchandise and interstate and intermunicipal transportation and communication services: (since 1997, until 31/12/2015) 2. Exemption from industrial products tax (from 01/01/2012 to 31/122012) 3. Reduced import tax (until 30/06/2012) 1 Source: Eurostat (2013), http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&plugin=1&language=de&pcode=tps00001 (inhabitants as of 1/1/2012) 2 Source: Eurostat (2012),http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&language=de&pcode=tps00003&plugin=1 3 Source: Eurostat (2013), http://epp.eurostat.ec.europa.eu/tgm/refreshtableaction.do?tab=table&pcode=tsdec100&language=de (GDP: Gross Domestic Product) 4 Source: Eurostat (2013), http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&plugin=1&language=de&pcode=ten00115, *annual consumption of 3,500 kwh, thereof 1,300 kwh at night (standard flat of 90m²), prices without tax; 5 Sources: Meteocontrol 2006, www.meteocontrol.de; *www.solareast-gsr.net 6 Source: World Bank (2012): http://data.worldbank.org/indicator/sp.pop.totl?cid=gpd_1 7 Source:World Bank (2012): http://data.worldbank.org/indicator/en.pop.dnst 8 Source: IMF (2014): http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/index.aspx

s General Overview Country Population (1) Population density (2) GDP per capita (3) Electricity price for Solar radiation (5) Conditions of private hh* (4) s Support programmes Solar building obligations Tax deductions (in m) (persons per km²) (in 1.000 ) (in ct/kwh) (kwh/m²) name, amount, duration name, amount, duration name,, duration name,, duration France 65.58 103.4 27.6 10.0 Paris: 1,149 Marseille: 1,571 1. Decree fixing the purchase for electricity produced by solar panels: ct 7.17 27.94 per kwh over 20 years (since 03/2011, unlimited) 2. Law on the modernisation and development of public electricity supply Application deadlines for PV installations of at least 100 and up to 250 kwp: 31October 2013, 28 February 2014, 30 June 2014 according to region (for details see country profile) none 1. Reduced VAT from 19.6% to 10% (from 09/1999, unlimited programme duration) 2. Exemption from real estate tax (since 01/2002, unlimited validity) 3. Exemption of agricultural property from real estate tax (since 01/2008. unlimited duration) 4. Reduced real estate tax reduction by 50% or 100% over a period of 5 years (since 01/2010, unlimited validity) 5. Lump-sum taxation for agricultural enterprises: Income from electricity production falls in the category of agricultural earnings (since 01/2008) 6. Tax exemption for income from the private generation of electricity from solar energy (retroactive from 01/2008) 7. Tax exemption for new enterprises (last amended in 09/2009, unlimited validity) Germany 80.52 229.4 30.2 14.93 Berlin: 1,019 Munich: 1,140 1. Act on Granting Priority to Renewable Energy Sources (EEG): From 1 July 2014: ct 8.92 12.88 per kwh (since 02/2000, unlimited duration) according to region (for details see country profile) none 1. Investment deduction: up to 40%; deduction not deemed part of the profit (since 08/2007, unlimited duration) 2. VAT exemption and recovery of input VAT (unlimited duration)

s General Overview Country Population (1) Population density (2) GDP per capita (3) Electricity price for Solar radiation (5) Conditions of private hh* (4) s Support programmes Solar building obligations Tax deductions (in m) (persons per km²) (in 1.000 ) (in ct/kwh) (kwh/m²) name, amount, duration name, amount, duration name,, duration name,, duration India 1,236.7 (2012) 9 411 (2011) 10 USD 1.4 5.8 8.7 (2013) 11 (2013) 1,600 2,300 1. Feed-in tariff: Phase II (2013-2017): ct 6.68 per kwh 2. Renewable Energy Certificate Mechanism (REC): 1 certificate per MWh, certificate price: 114 (since 2012) according to region (for details see country profile) none none Mexico 120.9(2012) 12 61 (2011) 13 USD 12.2 13.9 (2012) 1,600 2,100 1. Net metering (since (2013) 14 07/2007) 1. Fund for Energy Transition and the Sustainable Use of Energy 2. Fund for Energy and Sustainable Energy Use none 1. Capital allowance Up to 100% of the costs may be offset against income. 2. Exemption from import and export duties 3. Accelerated depreciation of fixed assets up to 100% of the expenses are deductible 9 Quelle: World Bank (2012): http://data.worldbank.org/indicator/sp.pop.totl?cid=gpd_1 10 Quelle: World Bank (2012): http://data.worldbank.org/indicator/en.pop.dnst 11 Source: IMF (2014): http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/index.aspx 12 Source: World Bank (2012): http://data.worldbank.org/indicator/sp.pop.totl?cid=gpd_1 13 Source: World Bank (2012): http://data.worldbank.org/indicator/en.pop.dnst 14 Source: IMF (2014): http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/index.aspx

s General Overview Country Population (1) Population density (2) GDP per capita (3) Electricity price for Solar radiation (5) Conditions of private hh* (4) s Support programmes Solar building obligations Tax deductions (in m) (persons per km²) (in 1.000 ) (in ct/kwh) (kwh/m²) name, amount, duration name, amount, duration name,, duration name,, duration Netherlands 16.78 496.9 32.3 13.22 Amsterdam: 1,027 Maastricht: 1,041 1. Stimulering Duurzame Energieproductie (SDE+): Tariff: ct 7-13 per kwh. The eligibility period is 15 years. (since 07/2011, until 12/2013) 2. Net metering: up to 5,000 kwh (since 1999, unlimited duration) Subsidy Programme for PV Systems: Temporary subsidy scheme for 2014 was introduced. none 1. Green funds: a. Deduction of 0.7% of investments from the income tax; b. Up to 55,145 or 110,290 per year are exempt from property tax (since 05/2000, unlimited) 2. Energy investment rebate EIA: deduction of 41.5 % of investments from corporation tax (since 1996, unlimited) 3. Act on the environmental protection tax: Exemption from electricity consumption tax: 0.0005 - ct 11.65 per kwh. (since 12/1994, unlimited) Poland 38.53 123.2 8.6 11.55 Gdynia: 1,006 Krakow: 1,073 1. Energy Act: quota system (quota for 2014: 13%) & obligation to buy at the average electricity price level of the past year (since 12/2005, unlimited) 1. depending on region, cf. worksheet "Poland" none none South Africa 51.19 (2012) 15 42 (2011) 16 USD 6.8 5.8 11.6 (2013) 17 (2012) 1,500 2,250 1. Eskom IDM Standard Offer Programme: ct8.19 per kwh over 3 years for systems with a capacity of 200kW-5MW 1. Renewable Energy Independent Power Producer Procurement Programme: Project submissions by 18 August 2014 none none 15Source: World Bank (2011): http://data.worldbank.org/indicator/sp.pop.totl?cid=gpd_1 16Source: World Bank (2010): http://data.worldbank.org/indicator/en.pop.dnst 17 Source: IMF (2014): http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/index.aspx

s General Overview Country Turkey Population (1) (in m) Population density (2) (persons per km²) GDP per capita (3) Electricity price for Solar radiation (5) Conditions of private hh* (4) s Support programmes (in 1.000 ) (in ct/kwh) (kwh/m²) name, amount, duration name, amount, duration 75.63 97.7 10.7 (2013) 18 11.86 n.a. 1. Feed-in tariff: ct 9.8 per kwh (since 05/2005) 2. Net metering ct 9.8 per kwh(since 07/2011) Solar building obligations name,, duration none none none Tax deductions name,, duration Ukraine 2.2 2.9 (2013) n.a. 1. Law on Alternative 45.6 (2012) 19 79 (2011) 20 USD 3.9 (2013) 21 Energy Sources: ct 33.92 35.86 per kwh (from 04/2009 to 01/2030) none none none United Kingdom 63.90 256.8 (2010) 30.5 16.58 Edinburgh: 866 London: 990 1. The Renewables Obligations Order 2002: One certificate is issued for every 0.5 MWh (0.25 MWh in Northern Ireland).The quota varies from region to region (since 04/2002, until 2037). 2. Feed-in Tariff Programme 2010: Installations < 5 MW; ct 7.95 17.93 per kwh (since 01/04/2010) none none 1. Reduced VAT from 20% to 0-5% (since 04/2000) 2. Exemption from Climate Change Levy (since 03/2000, unlimited) 18 Source: IMF (2014): http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/index.aspx 19Source: World Bank (2011): http://data.worldbank.org/indicator/sp.pop.totl?cid=gpd_ 20Source: World Bank (2010): http://data.worldbank.org/indicator/en.pop.dnst 21 Source: IMF (2014): http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/index.aspx

Belgium Name of & legal basis Green certificates (Certificats verts); Royal edict on the implementation of mechanisms for the promotion of electricity production from renewable energy sources (Arrêté royal relatif à l'établissement de mécanismes visant la promotion de l'électricité produite à partir des sources d'énergie renouvelables), 16th July 2002, in the version of 14th October 2005 Royal Edict of the Walloon Government of 24 November 2011 (Arrêté du Gouvernement wallon du 24 novembre 2011 modifiant l'arrêté du Gouvernement wallon du 30 novembre 2006 relatif à la promotion de l'électricité produite au moyen de sources d'énergie renouvelables ou de cogénération); Ministerial Resolutions of the Regional Government of Brussels Capital on Adjustments to the Green Certificate Scheme for PV Systems (Arrêté ministériel du 12 juillet 2012 portant adaptation du coefficient multiplicateur du nombre de certificats verts octroyés dena-subsidy Overview s quotabased certificate system Central of (including lower and upper limit) Green certificates are issued per MWh of electricity produced. Brussels Capital: Installations connected after 01/07/2011 are subject to new terms and : In the region of Brussels Capital, the coefficient on which the number of green certificates is based does no longer depend on the panel surface; there is only a single coefficient, which is set for the following year, every year by 1 October. Until 19.10.2012, all systems will receive 5 certificates per MWh, regardless of their size, except for legal entities and public system operators, which will receive 7 certificates per MWh for their PV systems. From 20.10.2012 to 01.08.2013, all systems will receive 4 certificates per MWh only. From 2 August 2013 onwards, PV installations will receive only 2.4 certificates per MWh.Neither legal entities nor public institutions are exempt from this cut. Wallonia: PV systems < 10 kwp: On 01/12/2011, changes were introduced for PV systems of less than 10 kw. For systems installed between 1 April 2012 and 1 September 2012, the number of certificates will be subject to annual reductions during the entire 10-year eligibility period. During the first year, 10 certificates will be issued per MWh. This number will gradually decrease to 2 certificates in the tenth year. For systems installed between 1 September 2012 and 31 March 2013, 8 certificates will be issued during the first year of operation.this number will gradually decrease to 2 certificates in the tenth year. From 1 April 2013 to 1 March 2014, 1.5 certificates per MWh were issued for the first 5 kwp, and 1 certificate per MWh was issued for any further kwp produced. The eligibility period iwas 10 years. Belgium in effect since 07/2003, latest amendment in 12/2011, unlimited validity framework but different implementation in the 3 Belgian regions (Wallonia, Flanders, Brussels- Capital) Beneficiaries of all operators of PV-systems Current status of, 06/2013: Brussels Capital: Since the amount of certificates per MWh was last adjusted on 20 October 2012, the price for PV modules has declined even further. For this reason, on 2 May 2013 the government announced to introduce a new coefficient, which will apply to all new systems in Brussels Capital from 2 August 2013. Due to this coefficient, the number of green certificates will decrease to 2.4 per MWh. Wallonia: 02/2014: A new guaranteed payment scheme ("Qualiwatt") has been introduced, replacing the certificate system for PV installations below 10 kwp. The decree to introduce Qualiwatt came into force on 1 March 2014. Transitional provision applies between 1 April 2014 and 1 March 2015. Belsolar, phone: +32 2 229 15 12, fax: +32 2 219 79 89, email: info@belsolar.be Belgium 8

s Belgium Name of & legal basis Central of (including lower and upper limit) Beneficiaries of Current status of, pour les installations photovoltaïques; Arrêté ministériel du 23 avril 2013 portant adaptation du coefficient multiplicateur du nombre de certificats verts octroyés pour les installations photovoltaïques) ); Decree of the Walloon Government of 12 April 2001 (Décret portant modifications du décret wallon du 12 avril 2001 relatif à l organisation du marché régional de l électricité) PV systems between 10 and 250 kwp: The number of certificates will remain unchanged until further notice; however, the eligibility period will be 10 instead of 15 years. 7 certificates/mwh for the first 5 kwp of the system, 5 certificates/mwh for a further 5 kwp, 4 certificates/mwh for systems generating between 10 and 250 kwp 1 certificate/mwh for systems generating more than 250 kwp. The above-mentioned certificates are issued under 3 : a) The producer must use at least 50% of the electricity produced for his own needs. b) The devices and buildings connected to the PV modules are subject to an energy audit. c) The installation of the PV system must not be ed by an investment grant of more than 50% of the investment costs. Two options for selling the certificates: 1. to the transmission network operator Elia that has the obligation to buy electricity produced with PV systems at a minimum price of 150 per MWh, guaranteed for 10 years; 2. on the (regional) certificate market: obligation of the electricity suppliers to provide a certain share (2014: Wallonia 23.1%) of green electricity in the total electricity sold to final customers per year; fixed price of 65 per certificate, guaranteed for 15 years. In case of failure to fulfil obligations, penalty payments ( 100 per missing certificate) shall be made. Belgium 9

s Belgium Name of & legal basis Central of (including lower and upper limit) Beneficiaries of Current status of, Return guarantee "Qualiwatt" by the regional government of Wallonia: Decree of the Walloon Government of 12 April 2001 Modifying the Organisation of the Regional Electricity Market (Décret du 22 janvier 2014 portant modifications du décret wallon du 12 avril 2001 relatif à l organisation du marché régional de l électricité) The new Qualiwatt scheme came into effect on 1 March 2014. Qualiwatt aims at ing home owners who have decided to install a PV system below 10 kwp. The scheme offers a premium over a period of 5 years. The premium is calculated by comparison to a 3 kwp reference system. The remaining 7 kwp can be fed back into the grid via netmetering (see below). The amount of premium will be such as to enable homeowners to make a return on their investment within 8 years and achieve a return rate of 5% over the entire lifetime of the system (at least 20 years). Natural persons with a low income are eligible for a bonus resulting in a return rate of 6.5%. The bonus will be paid annually over a five-year period on top of the regular premium. The premiums for all distribution grid operators, d in /kwp, will be published every 6 months by the Walloon regulator CWaPE. For the period from 1 July 2014 to 31 December 2014, the amount of premium will be between 321.51 and 342.33 per kwp (the bonus will be between 30.76 and 45.15 per kwp). A 3 kwp reference installation put into operation during this period would be eligible for a premium between 965 and 1027 (plus a bonus between 93 and 136). The premium is paid annually by the distribution grid operator. in effect since 03/2014, until revoked Wallonia region all operators of PV systems below 10 kwp Département de l'énergie et du Bâtiment durable de la Région Wallonne; phone: +32 81 48 63 77 Belgium 10

s Belgium Name of & legal basis Central of (including lower and upper limit) Beneficiaries of Current status of, Energy premium of the Brussels-Capital region (Primes énergie de la Région de Bruxelles-Capitale); Governmental decree of the Brussels-Capital region of 22 December 2010 investment subsidy The terms and for 2014 will remain the same as for 2013: Grants are awarded for the installation of PV systems on passive ( 15 kwh per m²) or low-energy houses ( 60 kwh per m²). Applies to all types of buildings (residential, commercial and industrial buildings). The grant categories depend on the income of the applicant (income for 2 persons in parentheses): Category A: > 60,000 per year (or > 75,000 per year) Category B: from 30,000 to 60,000 per year (or 45,000 and 75,000 per year) Category C: < 30,000 per year (or < 45,000 per year) Grants according to category (maximum grant: 30% of expenses): Category A: 0.25 per Wp Category B: 0.50 per Wp Category C: 1.00 per Wp Enterprises come under category A. in effect since 01/2011, current terms and from to 12/2014 Brussels-Capital region all building types (in Brussels- Capital) 06/2013:Due to the huge success of the energy premium, the 19-m- budget earmarked for this year has nearly been used up. For this reason, on 17 June the regional government announced in the Official Gazette that in 2013 it would consider only those applications that were submitted by 1 July. Annual renewal of the programme until further notice. Bruxelles Environnement - IBGE, Service Infoenvironnement, phone: +32 2 775 75 75, email: info@bruxellesenvironne ment.be Green electricity certificates in Flanders (Groenestroomcertificaten); Decree on General Conditions for Energy Policy (Energy Decree) of 8 May 2009 (Decreet houdende algemene bepalingen betreffende het energiebeleid "het Energiedecreet" van 8 mei 2009); Regulation by the Flemish Government on General Conditions for Energy Policy (Energy Regulation) of 19 November feed-in tariff in combinatio n with netmetering and green certificates In July 2012, the Flemish parliament adopted an amendment to the decree to abolish the price differences between systems 250 kw and systems > 250 kw. According to this amendment, the quantity of electricity to be produced for one certificate depends on the technology employed. Twice a year, the so-called "banding factor" is calculated, based on the price of the installation, the average electricity price and the grid charges. The banding factor determines the amount of electricity for which one certificate is issued. The following quantities of electricity have to be generated by systems put into operation on or later than 01.01.13 to receive one certificate ('banding factor' last adjusted in July 2013): Systems 10 kw: 3.571 kwh (0.28) in effect since 01/2006, last amended in 07/2013, unlimited duration Flanders region all operators of PV-systems Systems are eligible only if put into operation prior to 31.12.2012 (1 certificate = 1 MW of electricity produced). - Systems 250 kw: January 2012 - March 2012: 250 per certificate, April 2012 - June 2012: 230 per certificate, July 2012: 210 per certificate, August 2012 - December 2012: 90 per certificate - Systems > 250 kw: From January 2012: 90 per certificate Vlaams Energieagentschap, Graaf-de-Ferraris-gebouw Koning Albert-II-laan 20 bus 17 1000 Brussels phone: +32 2 553 46 00, fax: +32 2 553 46 01, email: energie@vlaanderen.be Belgium 11

s Belgium Name of & legal basis 2010 (Besluit van de Vlaamse Regering houdende algemene bepalingen over het energiebeleid "het Energiebesluit" van 19 november 2010) and Resolution of 18 January 2013 by the Flemish Government on Setting the "Banding Factor" for Green Electricity Certificates and Green Heat Certificates (Ministerieel besluit houdende vastlegging van de bandingfactoren van groenestroomcertificaten en warmtekrachtcertificaten voor 2013 van 22 Maart 2013) Central of (including lower and upper limit) Systems > 10 and 250 kw: 1.388 kwh (0.72) Systems > 250 and 750 kw: 1.754 kwh (0.57) Systems put into operation from 01.01.14: 10 kw = 3.731 kwh (0.268) > 10 and 250 kw = 1.915kWh (0.522) > 250 and 750 kw = 2.293 kwh (0.436) The minimum certificate price is 93. Systems are eligible over a period of at least 10 years. Systems put into operation since 1 August 2012 receive a fixed price of 90 per certificate (1 MW) over a period of 10 years. Beneficiaries of Current status of, PV systems put into operation prior to 1 August 2012 will be eligible for green certificates for 20 years. Flemish Strategic Ecology Premium Plus; Resolution of the Flemish Government of 4 July2013 (Het ministerieel besluit van 4 juli 2013 tot wijziging van het ministerieel besluit van 24 januari 2011 and Law of 26 March 2012 (Decreet betreffende het economisch ondersteuningsbeleid) subsidy In general, the "Ecology Premium Plus" provides an incentive for enterprises to invest in environmentally friendly and energy-efficient technologies, e.g. renewable energy technologies. The eligible technologies are set out in the "Limitative Technology List" (LTL), which is updated and revised on a regular basis. The current LTL does not include PV. However, PV systems are eligible under the 'Strategic Ecology Premium' scheme, which came into effect on 20 December 2012 and s technologies which cannot be listed in the LTL because they were designed for a specific company. in effect since 12/2010, last amended in 07/2013 Flanders region SMEs, large enterprises 06/2014: Since 11 June 2014, subsidies have no longer been available due to financial reasons. The list of technologies is available at: http://www.agentschapondernem en.be/artikel/welke-investeringenkomen-aanmerking-incllimitatievetechnologie%c3%abnlijst Agentschap ondernemen Koning Albert II-laan 35 bus 12 1030 Brussel phone: +32 800 20 555 info@agentschapondern emen.be www.agentschapondern emen.be Belgium 12

s Belgium Name of & legal basis Central of (including lower and upper limit) Beneficiaries of Current status of, The premium is available for enterprises based in Flanders. The level of funding provided depends on the type of investment, the ecologic category of the technology and the company size. The maximum grant is 1 per company. Project proposals may be submitted throughout the year. Enterprises that receive green certificates are ineligible for the premium. The premium is paid in three instalments. The first 30% will be paid out at least one month after the premium was granted, another 30% will be paid after 60% of the investment were made, and the remaining 40% will be disbursed after project completion. Net-Metering; Ministerial Resolution of 21 January 2010 (Ministerieel besluit houdende de goedkeuring van het technisch reglement distributie elektriciteit Vlaams Gewest) netmetering Installations with a capacity of <10 kw are recommended to participate in net-metering. Installations whose capacity exceeds10 kw may only participate in net-metering if they have a separate connection or meter to the distribution system. The distribution system operator is obliged to enter into agreements with the installation operators. Excess electricity generated (maximum installation capacity:10 kw) shall be fed back to the grid, causing the meter to run backwards. Such a meter is called a "bi-directional meter" ("terugdraaiende kwh-meter ). If, within one calculation period, more electricity was produced than consumed by the producer, the excess electricity will not be paid for. According to from the Flemish regulatory authority VREG, all renewable technologies are eligible for net-metering. in effect since 21.01.2010; last amendment in effect since 01.01.2013 Flanders region all operators of PV installations of up to 10 kw 02/2013: Since 1 January 2013, all installation operators that participate in net-metering are obliged to pay grid charges. The operators of installations >10 kw have to have separate meters for electricity exports and imports. They also have to pay grid charges. The grid charges for operators of installations 10 kw depend on the size of their installation. The charges may differ for various grid operators and amount to about 53 per year. The installation operator may, at his own cost, install separate meters for electricity exports and imports. The grid charges are payable once a year. Vlaamse Regulator van de Elektriciteits- en Gasmarkt (VREG) Graaf de Ferrarisgebouw Koning Albert II-laan 20, bus 19 1000 Brussels phone: +32 2 55 313 79 info@vreg.be www.vreg.be Belgium 13

s Belgium Name of & legal basis Central of (including lower and upper limit) Beneficiaries of Current status of, Net-Metering; Art.3, Edict of the Walloon Government of 3 March 2011 (Art. 63, Annexe de l Arrêté du Gouvernement wallon du 3 mars 2011 approuvant le règlement technique pour la gestion des réseaux de distribution d électricité en Région wallonne et l accès à ceux-ci) netmetering Distribution network operators are obliged to accept netmetering for systems generating electricity from renewable energies (e.g. PV systems) 10 kw; a possible electricity surplus fed into the grid has to be bought by the distribution network operators at market prices. Participation in the authorisation procedure for net-metering is free of charge. in effect since 24 th July 2007, unlimited validity Wallonia region all operators of PV-systems Département de l'énergie et du Bâtiment durable de la Région Wallonne; phone: +32 81 48 63 77 Belgium 14

Brazil dena-subsidy Overview s Brazil Name of & legal basis Central of (including lower and upper limit) Duration of Coverage of Beneficiaries of Current status of, Law No. 9,427 of 26 December 1996 as amended by Law No. 11,488 of 15 June 2007. Normative Resolution No. 77 of August 2004 as amended by Normative Resolution No. 271 of 2007 and Normative Resolution No. 481 of 17 April 2012 (ANEEL, Resolução Normativa 481 de 17 de Abril de 2012) reduction in the charges for the use of the grid systems Energy producers pay charges for the use of the distribution and the transmission system, the so-called TUSD (Tariff for the Use of the Distribution System) and the TUST (Tariff for the Use of the Transmission System). However, electricity generated from solar units with a power injection of 30MW is eligible for an 80% reduction of the TUSD and TUST. in effect since 2003, unlimited validity enterprises generating electricity from solar units with a maximum power injection of 30 MW Producers of solar energy who started commercial operation before December 2003 benefit from a 100% reduction in the charges for use. Energy producers who start commercial operation before 31 December 2017 will benefit from an 80% reduction of the TUSD and TUST within the first ten years of plant operation. The discount will be reduced to 50% after the tenth year of plant operation. Enterprises entering into commercial operation after 31 December 2017 will be eligible for a 50% discount right from the start of commercial operation. Brazilian Electricity Regulatory Agency (ANEEL, Agencia Nacional de Energia Eletrica) www.aneel.gov.br/ SRT Trust phone: +55 61 2192 8908 / 8755 fax: +55 61 2192 8686 Ministry of Mines and Energy (MME, Ministerio das Minas e Energia) www.mme.gov.br/ Department of Energy Development (Secretaria de Desenvolvimento Energetico) phone: +55 61 3319 5811 ombudsman's phone: +55 61 3319 5258 or +55 61 3319-5036 e-mail: ouvidoria.geral@mme. gov.br Brazil 15

s Brazil Name of & legal basis Central of (including lower and upper limit) Duration of Coverage of Beneficiaries of Current status of, Law No. 9,991 of 24 July 2000 as amended by Law No. 10,438 of 2002 tax exemption Licensed power generators and independent producers shall annually invest a minimum of 1% of their net operating revenue in research and development of the electricity sector. However, independent producers generating electricity exclusively from wind, solar, biomass, small hydro and cogeneration plants are exempt from this obligation (Art. 2 of Law No. 9,991/2000). in effect since 2000, unlimited validity independent producers generating electricity exclusively from wind, solar, biomass, small hydro and cogeneration plants Independent producers are enterprises or consortia of enterprises that have a licence or authorisation to generate electricity and trade it at their own risk. Brazilian Electricity Regulatory Agency (ANEEL, Agencia Nacional de Energia Eletrica) www.aneel.gov.br/ phone: +55 61 2192 8693 fax: +55 61 2192 8686 ICMS Regulation No. 101 of 12 December 1997 (last amended by ICMS Regulation No. 10 of 21 March 2014) tax relief The Tax on the Circulation of Merchandise and Interstate and Intermunicipal Transportation Services and Communications (ICMS, Imposto sobre Circulacao de Mercadorias e Servicos) is a federal tax that shall be paid by individuals and enterprises carrying out commercial transactions related to the circulation of goods and services. Commercial transactions of solar equipment and components listed in the ICMS Regulation are exempt from this tax. in effect since 1997, extended to 31/12/2021 individuals and enterprises involved in the commercial transaction of solar equipment and components listed in the regulation ICMS Regulation No. 10 of 21 March 2014 extended the tax relief for commercial transactions of solar equipment and components to 31 December 2021. The following solar equipment and components are listed in the regulation: I - liquid pump for use in photovoltaic systems with a maximum output of 2 HP; II - PV generator, maximum output of 750 W III - PV generator, minimum output: 750 W, maximum output: 75 kw IV - PV generator, minimum output: 75 kw, maximum output: 375 kw V - PV generator, output shall exceed 375 Kw VI - free-standing solar panels VII - other solar panels VIII -- equipment and components used in the aforementioned photovoltaic generators, (NCM codes 8501.31.20, 8501.32.20, 8501.33.20 and 8501.34.20-8503.00.90). CONFAZ (Conselho Nacional de Politica Fazendaria) www.fazenda.gov.br/c onfaz/ Brazil 16

s Brazil Name of & legal basis Central of (including lower and upper limit) Duration of Coverage of Beneficiaries of Current status of, Decree No. 7,660 of 23 December 2011 as amended by subsequent decrees tax relief The Industrial Products Tax (IPI - Imposto sobre Produtos Industrializados) is a federal tax on and foreign industrial goods. Importers and producers of industrial goods shall pay this tax. The tax bands are published in a table (TIPI)and range from 0% to 60%. Transactions involving PV modules/panels and solar cells are exempt from the IPI. Nonetheless, other components (e.g. batteries) are not tax exempt. from 01/01/2012 onwards individuals and enterprises Decree No. 7,660 of 2011 lists taxable equipment and has been amended since 2011 (last amended by Decree No. 8,169of 23 December 2013).The tax exemption for PV modules/panels and solar cells have remained unchanged ( as of June 2014). Ministry of Finance www.fazenda.gov.br/ phone: +55 61 3412 2000 or +55 61 3412 3000 ANEEL's Normative Resolution No. 482 of 17 April 2012 as amended by Normative Resolution No. 517 of 11 December 2012 (ANEEL, Resolução Normativa 482 de 17 de Abril de 2012) net-metering; "energy credits" ANEEL's Normative Resolution establishes the Energy Compensation System, which allows consumers to install small (micro and mini) generators in their building or business units and exchange electricity with the local distributor. The electricity produced shall be first used to cover the demand of the generator unit. Excess electricity may be fed to the grid to earn so-called "energy credits", which are valid for 36 months and can be used to offset the consumption of the generator unit in subsequent months or to offset the consumption of other units if the owner is the same. The following definitions apply: Micro generation = distributed generation of up to 100 kw. Mini generation = distributed generation from 100 kw to 1 MW in effect since April 2012, unlimited validity. However, ANEEL shall review the Normativ e Resolutio n within the next 5 years. all consumers: individuals, enterprises, public bodies ANEEL (Agência Nacional de Energia Elétrica) is the Brazilian energy agency. Distributors had to develop new or revise their existing technical standards to allow access of mini and micro generation units to their grids (as established by the Resolution) within 240 days after the Resolution's publication (publication date: 19.04.2012). Therefore, distributors had to prepare to be able to handle connection requests for mini- and micro-generation units from 15 December 2012 onwards. Consumers who install micro or mini generation systems have to bear the costs of adapting the meter, but the distributor is responsible for its maintenance and has to bear the costs of an eventual replacement. Energy credits are valid for a period of 36 months and can be used to offset the consumption of other units (previously registered) if the owner is the same. ANEEL has published the registration form for mini- and micro-generation units taking part in the compensation scheme. This form must be completed by the distributors. A list with links to the technical standards of Brazilian DSOs is available at: /www.americadosol.org/wpcontent/uploads/2013/08/normas_tecnicas_distribuidoras.pdf It should be noted that solar panels are exempt from the ICMS tax (see the aforementioned ICMS Regulation No. 101/97). However, despite Brazilian Electricity Regulatory Agency (ANEEL, Agencia Nacional de Energia Eletrica) www.aneel.gov.br/ Brazil 17

s Brazil Name of & legal basis Central of (including lower and upper limit) Duration of Coverage of Beneficiaries of Current status of, ANEEL's Normative Resolution No. 517/201, a decision (Convênio ICMS 6/2013) by the National Council for Financial Policy (Confaz) established that the ICMS is to be levied on the total energy entering a consumer's installation, including excess electricity from micro and mini generation (including installations that use solar panels), which can be exported back to the grid. The federal states have the power to establish tax incentives. In the state of Minas Gerais, for example, micro and mini generation units participating in the compensation scheme are exempt from the ICMS tax for 5 years (Art. 1 State Law No. 20.824 of 31 July 2013). Law No. 11,484 of 31 May 2007 as amended by Decree No. 6,233/2007 and subsequent legislation. (Decree 6,233/2007 was last amended by Decree No.8,247 of 23 May 2014) Tax exemption and tax relief In case of sales of devices under code 8541 of the NCM, companies taking part in the PADIS programme are exempt from the payment of corporate tax (IRPJ) (art. 4 of Law No. 11,484/07 as amended). In case of domestic sale or import of machines and equipment for internal use, companiesare exempt from the following taxes (art. 3 of Law No. 11,484/07 as amended): - PIS (Contribution to Social Integration Tax) and COFINS (Social Security Tax), both levied on income; - IPI (Tax on Industrialised Products); - II (Import Tax). in effect since 2007 legal entities joining the Support Programme for the Development of the Industry of Semiconduct ors and Displays (PADIS), which includes manufacturer s of electronic semiconduct or devices as classified under code 8541 of the - NCM, i.e. solar cells and panels To be eligible for the programme, legal entities shall invest in research and development (R&D) activities in Brazil; among others, the development, design and testing of electronic semiconductors as classified under code 8541 of the NCM (Nomenclature Commune Merchandises). The annual investment in Research and Development (R&D) shall reach at least 5% (five per cent) of the entity's gross sales in the domestic market. The amount can be reduced by the government, but shall not be lower than 2% (Art. 6, 4 of Law No. 11,484/07 as amended). Ministry of Science and Technology (MCT) www.mct.gov.br/index. php/content/view/71822.html phone: +55 61 33177500 e-mail: ouvidoria@mct.gov.br Ministry of Finance www.fazenda.gov.br/ phone: +55 61 3412 2000 or +55 61 3412 3000 Brazil 18

s Brazil Name of & legal basis Central of (including lower and upper limit) Duration of Coverage of Beneficiaries of Current status of, MME Ordinance 236 of 30 May 2014 (Portaria do MME 236 de 30 de Maio 2014) amended by MME Ordinance 320 of 9 July 2014. Reverse competitive bidding The selling price for the auction has not been released yet (as of 30 July 2014), but solar energy will not compete with other renewable energy sources, such as wind, during the bidding process. A 20-year contract will be awarded. Solar PV generation projects MME Ordinance 236/2014 sets the rules applicable in the first energy auction that will take place at level where solar energy is not competing with other renewable energy sources. This Ordinance was amended by MME Ordinance 320 of 9 July 2014, which postponed the date of the auction from 10 October to 31 October 2014 and extended the deadline for project developers to register at the Energy Research Company (EPE) (Habilitação Técnica). The new deadline was 24 July 2014. The EPE conducts a technical evaluation of projects and sends a list of qualified projects for the tender to the Ministry of Mines and Energy (MME). The bidding process is online and is conducted by the Electric Energy Trading Chamber (CCEE), a separate legal entity under the supervision of the Brazilian National Agency of Electric Energy (ANEEL). A 20-year contract will be awarded to the winners and the beginning of supply is expected to be October 2017. Ministry of Mines and Energy (MME) www.mme.gov.br Energy Research Company (EPE) www.epe.gov.br Solar Auction in the State of Pernambuco Reverse competitive bidding The selling price was initially set at R$ 250/MWh (approx. 82/MWh), but the average selling price was R$ 228/MWh (approx. 75/MWh). 20-year contract awarded State Level: State of Pernambuc o PV project developers In December 2013, the State of Pernambuco held the first specific auction for solar technology in Brazil. The selling price was initially set at R$ 250/MWh (approx. 82/MWh), but the average selling price was R$ 228/MWh (approx. 75/MWh). Five bidders (out of 34 registered bidders) were awarded projects in the end of the bidding process, accounting for 122.82 MW. The beginning of supply is expected to be 2015. Government of the State of Pernambuco www.pe.gov.br Brazil 19

Denmark dena-subsidy Overview Denmark Name of & legal basis Central of (including lower and upper limit) Duration of Coverage of Beneficiaries of Current status of, Act No. 1392/2008 of 01.01.2009 on the promotion of renewable energy premium tariff Systems connected after11 June 2013:wholesale price + variable bonus = ct 8 per kwh (øre 60 per kwh) during the first 10 years of operation and ct 5.3 per kwh (øre 40 per kwh) during a further 10 year period. In addition, funds will be provided to an additional annual capacity of 20 MW over a period of 5 years starting in 2013. The following tariff rates apply: 6 kw for households connected to an installation used for self consumption: Installations connected prior to 1 January 2014: wholesale price + variable bonus = ct 17.42 per kwh (øre 130 per kwh) over 10 years. The tariff for installations connected on or after1 January 2014 will decrease by ct 1.87 per kwh (øre 14 per kwh) every year. Jointly owned building-integrated PV installations, grid connection prior to1 January 2014: wholesale price + variable bonus = ct 19.43 per kwh (øre 145 per kwh) over 10 years. The tariff for installations connected on or after to 1 January 2014 will decrease by an annual 2.27 per kwh (øre 17 per kwh). Jointly owned PV installations, grid connection prior to 1 January 2014: wholesale price + variable bonus = ct 11.7 per kwh (øre 90 per kwh) over 10 years. The tariff for installations connected on or after 1 January 2014 will decrease by an annual ct 0.8 per kwh (øre 6 per kwh). in effect since 01/2009, amended terms and since 05/07/2013, unlimited duration all operators of PV systems All figures are based on the exchange rate of 26/06/2014: DKK 1 = 0.13. Energinet.dk phone: +45 70 10 22 44 e-mail: info@energinet.dk 20 Denmark

Denmark Name of & legal basis Central of (including lower and upper limit) Duration of Coverage of Beneficiaries of Current status of, Exemption from Public Service Obligation (PSO) or renewable energy fee, BEK No. 1032 of 26/08/2013 tax relief Every consumer has to pay Public Service Obligation depending on his electricity consumption. The renewable energy fee is part of the PSO. This fee is calculated four times a year by Energinet.dk. Systems > 50 kw: Electricity producers whose PV system is > 50 kw may apply to energynet.dk for exemption of electricity used for their own needs from the renewable energy fee. The system must be installed at the site of consumption and must be fully owned by the consumer. Systems 50 kw: Electricity produced by PV systems 50 kw may be exempt from the PSO if it is used for the producer's own needs. Systems are eligible only if they are located at the place of consumption and are fully owned by the consumer. in force since 09/2013, unlimited duration all operators of PV systems Figures as of 26/06/2014: DKK 1 = 0.13 Energinet.dk phone: +45 70 10 22 44 e-mail: info@energinet.dk The exemption will apply up until 19.11.2032. In the second quarter of 2014, the PSO rate was Øre 22.7 per kwh (approx. ct 3.04 per kwh). Electricity producers that are exempt from the renewable energy fee only pay part of the PSO (Øre 1.3 per kwh - ct 0.17 per kwh). ForskVE - top-up grants for small-scale renewable energy systems; Act No. 1392/2008 of 01.01.2009 on the Promotion of Renewable Energy; Regulation No. 692 of 26 June 2012 on Subsidies to Promote the Use of Renewable Energy Sources (BEK nr. 692 af 26/06/2012) grants For on-grid systems only. Grants are awarded through tendering. The amount of grant is decided on a case-to-case basis. Grants are provided for small systems using renewable energy sources "of strategic importance". This definition includes small building-integrated systems. in effect from 06/2008 to 2015; new terms and since 06/2012 all operators of PV systems Budget from 2012 to 2015: 3.35 m (DKK 25 m) per year. This grant may be received on top of the premium tariff or the net-metering rate. All figures are based on the exchange rate of 26/06/2014: DKK 1 = 0.13 Energinet.dk phone: +45 70 10 22 44 e-mail: info@energinet.dk 21 Denmark

France dena-subsidy Overview France Name of & legal basis Central of (including lower and upper limit) Beneficiaries of Current status of, Decree of 4 March 2011 on the purchase for electricity generated by solar installations (Arrêté du 4 mars 2011 fixant les d achat de l électricité produite par les installations utilisant l énergie radiative du soleil); Decree of 7 January 2013 Amending the Decree of 4 March 2011 (Arrêté du 7 janvier 2013 modifiant l'arrêté du 4 mars 2011); Decree of 7 January 2013 on Increasing the Feed-in Taiff Levels for Certain Solar Installations (Arrêté du 7 janvier 2013 portant majoration des tarifs de l'électricité produite par certaines installations utilisant l'énergie radiative du soleil); Decree of 25 April 2014 Establishing Several Regulations for PV Installations (Arrêté du 25 avril 2014 portant diverses dispositions relatives aux installations utilisant l'énergie radiative du soleil) feed-in tariff In general, the following systems are eligible for grants or tenders under the new scheme: - Roof-top systems 100 kwp are eligible for the feed-in tariff - Roof-top and ground-mounted systems > 100 kwp are eligible for tenders. The feed-in tariffs are evaluated every 3 months. This evaluation will be based on the total output of all systems whose application for connection was submitted within last three months. Furthermore, the feed-in tariffs will depend on the type of building, the type of building-integration and the system capacity. The following tariff levels are subject to the government's approval (i.e. they have to be published in the gazette). They apply to systems for which an application for connection was made between 1 April 2014 and 30 June 2014 (the tariffs come into effect only if they are published in the gazette): 1. Building-integrated systems 9kWp (T1): ct 27.94 per kwh 2. Simple building-integrated systems (T4): ct 13.45 to 14.16 per kwh, depending on the system capacity 3. Other systems 12 MW (T5): ct 7.17 per kwh. As under the previous scheme, the tariff levels are revised every three months and depend on degression coefficients. These coefficients are based on the number of applications for connection made in the previous three months. in effect since 03/2011, unlimited validity coverage; same in continental France and the overseas regions and Corsica all operators of PV systems 07/2014: The Decree of 25 April 2014 abolished the increased feed-in tariff (increase of up to 10%) for PV installations produced in the European Economic Area. The Decree applies to all PV installations for which an application for grid connection was submitted after 10 March 2014. 02/2013: The feed-in tariffs for small-scale PV systems < 100 kwp were amended by the Decree of 7 January 2013 Amending the Decree of 4 March 2011. Installations for which a complete application for connection was submitted on or after 1 February 2013 are now classified in three categories only. Installations are no longer classified according to their purpose. ADEME Centre de Paris - Agence de l'environnement et de la Maîtrise de l'energie phone: +33 1 47 65 20 00 fax: +33 1 46 45 52 36 www.ademe.fr France 22

France Name of & legal basis Central of (including lower and upper limit) Beneficiaries of Current status of, The degression rate will be adjusted every year on the day on which the connection agreement was concluded. 80% of the tariff value are guaranteed. The amount of reduction (up to 20%) is reviewed annually and depends on the coefficients determined by INSEE. Furthermore, PV installations for which a complete application for grid connection was submitted by 10 March 2014 are entitled to a 5 to 10% increase in the feed-in tariff if they were produced in the European Economic Area and in compliance with certain standards. Law n 2000-108 of 10 February 2000 on the modernisation and development of public electricity supply (Loi n 2000-108 of 10 February 2000, Loi relative à la modernisation et au développement du service public de l'électricité); Decree n 2002-1434 of 4 December 2002 on tenders for electricity generating installations (Décret n 2002-1434 du 4 décembre 2002 relatif à la procédure d'appel d'offres pour les installations de production d'électricité) feed-in tariff The government organises calls for applications for special tariff rates on an irregular basis to meet the capacity targets. These targets are specified in the perennial investment plan (Programmation Pluriannuelle des Investissements PPI). in effect since 08/2011, unlimited validity all operators of PV systems 7/2014: On 27 March 2013, the French regulatory commission published a call for building-mounted PV sytems with a capacity of at least 100 and up to 250 kwp. Applicants had to comply with several requirements, e.g.: - New PV systems were eligible only if they had not been put into operation at the time of application. - PV systems had to comply with ISO 14001 (or an equivalent standard) and ISO 9001. There were three application periods for PV installations with a capacity of at least 100 and up to 250 kwp. Applications must be submitted by: Commission de Régulation de l'énergie phone: +33 144 504 100 fax: +33 144 504 111 www.cre.fr - 31October 2013-28 February 2014-30 June 2014 France 23

dena-subsidy Overview Photovoltaics. Issue July 2014.