Webber Wentzel partners Chetan Vanmali and Joon Chong outline the factors homeowners and businesses must consider to qualify for South Africa’s solar incentives.
The demand for solar power equipment in South Africa will likely rise with the country’s new solar incentives, but homeowners and businesses must know what to do to qualify for the tax breaks.
“The necessary empowering legislation will be included in the annual tax amendments, but it is not necessary for those wishing to apply for the rebate to wait until the legislation is passed.” However, the incentives only apply to solar panels and will not be granted for other equipment like inverters and generators.“These panels may be a new installation, or an extension of an existing system,” Vanmali and Chong wrote. “The system must be connected to the residence’s mains distribution.”
“There is thus a significant time lag between the time expenses are incurred, and when the refund will be received by the individual.” “The latest proposals allow for a 125% tax rebate over one year for any renewable energy project, with no cap on the generation capacity,” Vanmali and Chong wrote.
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