This paper is focused on analysing the impacts brought by economic instruments of energy policy in the Czech Republic towards generation of renewable electricity. The main area of analysis will be the effects of both feed-in tariffs and grants. Firstly, a description of how generation of renewable energy is supported is provided, followed by an overview of used literature. For the purposes of the paper, correlation and regression analysis methods are used. Based on the results, there is a dependence mainly between minimal feed-in tariffs and generation of electricity from both biomass and wind power plants. As for grants, dependence lies between State Environment Fund grants and generation of electricity from both biogas and wind power plants.