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Tech May 13, 2023

France to offer new tax credit for business investments in green technologies

On Thursday, President Emmanuel Macron announced that the French government will introduce a new tax credit to incentivize business investments in renewable energy sources like wind and solar power, heat pumps, and batteries. This move is part of France’s efforts to promote the growth of the green industry.

The new tax credit, which is expected to be included in next year’s budget, aims to attract private investments worth 20 billion euros by 2030 and generate tens of thousands of jobs.
President Macron also shared that the government will present a green industry bill on Tuesday, which includes plans to increase investment in training and reduce the time required to set up a new factory in France by half.

In addition, French state aid for the purchase of electric vehicles will be restricted to those made in Europe.

Sources: CGTN

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