Solar panel tax rebates to help ease SA energy crisis
Government is hoping to boost investment in renewable energy with tax breaks for individuals and businesses.
They're aimed at easing the pressure on the electricity grid.
"From 1 March 2023, businesses will be able to reduce their taxable income by 125 per cent of the cost of an investment in renewables," says Finance Minister Enoch Godongwana.
READ: Finance minister gives South Africans a tax breather
"There will be no thresholds on the size of the projects that qualify, and the incentive will be available for two years to stimulate investment in the short term."
Godongwana says there's also an incentive for individuals who using solar in their homes.
"Individuals who install rooftop solar panels from 1 March 2023 will be able to claim a rebate of 25 per cent of the cost of the panels, up to a maximum of R15 000."
