Extending incentives for household use requires a mind shift from the tax man and local municipalities
SA is experiencing a residential solar installation boom. In the first half of 2022 alone,
These numbers are staggering and bode well for a future in which residential solar can lighten the load on the national grid. But a crucial caveat blocking the solar light at the end of the tunnel is the limited tax incentives for private solar solutions.So for the next 12 months we can expect a rush for solar installation.
On the other hand, if the tax allowance were to be extended we would have more time to expand the industry and grow the market so that supply could meet demand. And the knock-on effects would be beneficial for the government in the long run. Let me explain why.tax incentives can be a slippery slope. But should we extend them by several years, and if they are regulated correctly, the economic ripple effects have the potential to transform the country’s future financial outlook.
It would also help motivate the production and manufacturing of renewable-energy-associated equipment locally. A circular economy of supply and demand will increase only as more end users make the move towards renewable options, which would put local manufacturers in a far more favourable financial position. A year is also not long enough for many households to afford solar installation.
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