Electricity minister says solar tax incentive should be extended
The incentive, which offers households a tax credit for solar panel purchases, is set to expire in February next year.Electricity Minister Kgosientsho Ramokgopa argued that the household solar tax incentives, which were introduced earlier this year, should be extended beyond the current financial year.
He said his office was making the case to National Treasury for the incentive, which offered businesses and households tax credits on solar panel purchases, to be extended.He compared the solar tax incentive in South Africa to that in Vietnam, which he visited earlier this year. In South Africa, business and household solar tax incentives were announced in February as part of the national budget.
Households who spend money on solar panels currently receive 25% of their solar spend back as a tax credit. The rebate is capped at R15 000.More than double the value of solar panels were imported into the country in the first half of 2023 than in the whole of 2022., which revealed there was a four-fold increase in the maximum output of solar not contracted to the utility between March 2022 and June 2023.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
16 Newtown businesses collectively owe CoJ R33m for electricity - City PowerA cut-off operation is underway in the area to disconnect power to ten of these businesses.
Read more »
Mbombela cuts electricity to Nova centres due to non-paymentSharemax rescue vehicle seems to be facing significant cash flow challenges.
Read more »
Turkiye Expects Akkuyu Nuclear Power Plant to Begin Generating Electricity on October 29, 2024South Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Read more »
S.Africa's first virtual renewable electricity transfer model to go live next yearSouth Africa's first virtual electricity transfer model is likely to go live by end of next year, a top government official said on Friday, a move that could rapidly ramp up renewable power consumption and reduce the burden on ailing state utility Eskom.
Read more »
Bangladesh took Russian nuclear electricity deal SA refused. It has just received the first uraniumBangladesh took Russian nuclear electricity deal SA refused. It has just received the first uranium
Read more »
Eskom owed a whopping R4.7b by City of Tshwane and EkurhuleniMunicipal electricity debt in Gauteng continues to increase rapidly, the City of Tshwane and Ekurhuleni owe Eskom over R4 billion.
Read more »