+(27) 67 060 1269 info@energytraders.co.za

Solar Tax Incentive

South Africa’s new solar tax incentive, announced by finance minister Enoch Godongwana, provides a significant opportunity for homeowners to install solar panels and reduce their reliance on the grid. However, there are some important factors to consider before taking advantage of this offer.

To qualify for the rebate, you must install new solar photovoltaic (PV) panels rated for an output capacity of at least 275W, and they must be screwed down onto your roof – they can’t be portable. You’ll also need to find a qualified installer who can provide you with a certificate of compliance with the Electrical Installation Regulations.

The tax break is limited to 25% of what you spend, up to a maximum of R15,000. To make the most of it, you’ll need to spend at least R60,000 on your solar system. This cap is designed to encourage more people to install solar panels, rather than just funding wealthy homeowners who want to go completely off-grid.

Furthermore, the rebate is only available for a limited time, so homeowners must act quickly to take advantage of this opportunity. The system must be “brought into use” by 29 February 2024, and there is no guarantee that the deadline will be extended.

Suppliers and installers are already experiencing high demand, so lead times may be several months. They may also require full payment on order, so homeowners will need to have the necessary funds available to pay for the system.

In conclusion, South Africa’s solar tax incentive provides a great opportunity for homeowners to invest in solar panels and reduce their reliance on the grid. However, it’s important to consider the cost, the qualifications needed, and the limited time available to claim the rebate. Homeowners should act quickly to take advantage of this offer, and ensure that they have the necessary funds available to pay for the system.

Read more here

Learn the five steps to backup battery and solar installation.

Contact Energy Traders for more information:

derek@energytraders.co.za

+27 79 872 4874