In his National Budget Speech South Africa’s Minister of Finance announced some new short term tax incentives for South Africans to go solar.
In his National Budget Speech on 22 February, South Africa’s Minister of Finance Enoch Godongwana announced some new short term tax incentives for South Africans to go solar. This is in a bid to help people go solar to help increase the contribution of distributed solar, as well as cushion citizens from the unprecedented levels of load-shedding.
For example, a person buys 10 solar PV panels, at a cost of R4000 per panel . That person would be able to claim 25% of the cost up to R15,000, so R10,000. A different person is able to buy 20 panels at a cost of R4000 per panel . The calculation of 25% adds up to R20,000, but they can only claim R15,000.
The solar PV panels must form part of a system that is connected to the mains distribution of the private residence. R15,000 is $823. It’s a good start, however it would have been better if this had been set to at least $2,000 and perhaps up to $5,000 when including approved battery storage systems to a solar installation, depending on energy storage capacity. This would have really helped the adoption of residential energy storage systems. One does need a battery for backup during load-shedding, so it is strange that storage is not included.
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