The government will give you back R15,000 of your own money if you install solar panels – soon.
The incentive is capped in two ways: at a maximum of R15,000 and at a maximum of 25% of what you spend. So to make the most of it, you'll need to spend R60,000. "The incentive will only be available for 1 year to encourage investment as soon as possible," says the national treasury. We couldn't find a lot of them to speak to on Wednesday, because they were frantically gearing up to meet what they rightly anticipate to be a significant leap in demand.
New,"to ensure that the capacity is in addition to what the country already has in place". You can extend a current system, but the panels you install must never have been used.Be rated for an output capacity of at least 275W, which are the physical size most people will thin of when you talk about home solar panels.Panels that get the rebate must be installed at"a residence that is mainly used by an individual for domestic purposes".
BISouthAfrica Should have made all solar components including battery and inverters 100% tax deductible. Would spawn new business opportunities in the short and long term and solve our electricity problem in under 2 years.
BISouthAfrica So they will give you R15k after spending R60k plus, I wanna see that happen as getting money out the government is like getting blood from a stone, and where is that money coming from considering they could use that money on maintenance then people wouldn't need to het solar
BISouthAfrica How can de Ruyter stay away from politics
BISouthAfrica Somebody is going to make a heap of money. Somebody will get a huge kickback.
BISouthAfrica So I spend R100k and get up to R15k break
BISouthAfrica I wonder how much the government intends on stealing
BISouthAfrica R15k? Don't fall over yourself giving us an incentive.
BISouthAfrica They failed to give us R350 now, now how can, they be able to bay us back R15,000 mhuu
BISouthAfrica Government will make more than the R15 000 rebate back on the import duties and Vat as well as the other ore expensive costs not covered by the scheme being inverters and batteries. We are being misled & shows govt not serious. Next will come a solar tax
BISouthAfrica They are up to something, I don't trust them
BISouthAfrica Ask them to give me the funds to install them then I will gladly do so. Solar panels are for the rich, not us below middle class.
BISouthAfrica Another way of eating public funds. Solar geysers were not installed in many houses in the township, yet the finds were distributed to those projects. We want electricity finish and Klaas!
BISouthAfrica It is a 15k deduction from taxable income so you save approximately your marginal rate multiplied by 15k. If you're on a 31% marginal rate you save about R4600. The higher your tax bracket the more you save, so there's less benefit for lower income families and none for the poor.
BISouthAfrica To install this cost’s about 40k izovelaphi?
BISouthAfrica It's much less than that. The R15,000 is a deduction from taxable income. Your savings is the tax on R15,000. It's not going to get the population to rush out and install panels.
BISouthAfrica Fake news. They said that they will only give back 25% up to the amount of R15 000 and there after every cent you pay on your own. R15 000 solar won't give you power what you need. For a 3 to 4 bedroom house to go semi of grid will cost you between R250 000 to R500 000.
BISouthAfrica Yes because communist regimes are known for being trustworthy.
BISouthAfrica 15 000 gives you zero solar
Yesterday's news, the cost of solar panels will increase by 33% from the 1st of March 2023.
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Tax breaks for rooftop solar fall short, says industryThe average household buys a system that ranges in price between R95,000 and R200,000
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