The condition of the tax rebate for households is that the solar panels must be purchased and installed at a private residence, and a certificate of compliance for the installation must be issued from 1 March 2023 to 29 February 2024, according to the Budget Review document.
But from 1 March 2023, the expanded incentive kicks in and will allow businesses to claim a 125% deduction in the first year for all renewable projects - solar PV, concentrated solar power, wind, hydropower and biomass projects.The incentive will apply for two years. But the government is placing a lot of reliance on renewables to help satisfy energy demand in the coming years.Supplied National Treasury
_Business You guys are laughable, how much time did you have to fix Eskom, I’ll give you a hint 1994 👂
_Business Privatization on full swing
_Business And please list all politicians financial interests in renewables. There is quite a few.
_Business This government has lost it. With so much money it is wasting , why don't they install those solar panels to the poorest of the poor. The anc needs the poor people more when it is election time
_Business That's the prayer 🙏 for the theme of our budget speech
_Business Asisine government
_Business Why not cap the suppliers also? The prices for renewables at the moment is completely out of control
_Business 'Renewables' are not going to solve SA electricity problems, being pragmatic will.
_Business I sincerely hope that competition tribunals get involved to ensure that private households don't get ripped off by the solar industry/installers by marking up their prices by that 25% (or more) to account for that SARS rebate. Private households hardly win.
_Business SA consumers are already so indebted and have no funds to now go and do capital expenditure to install solar. Besides with a weakening currency, high fuel costs, high food prices & increasing interest rates the burden is massive. China will dump their old product/panels in SA.
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WATCH LIVE | Finance minister Enoch Godongwana delivers 2023 budget speechFinance minister Enoch Godongwana is delivering the 2023 budget speech to the National Assembly in the Cape Town City Hall on Wednesday.
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