{"id":250914,"date":"2023-02-23T11:33:33","date_gmt":"2023-02-23T09:33:33","guid":{"rendered":"https:\/\/mypr.co.za\/?p=128860"},"modified":"2023-02-23T11:33:33","modified_gmt":"2023-02-23T09:33:33","slug":"you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister\/","title":{"rendered":"You Missed a Golden Opportunity at Payback for Your Solar Incentives Minister"},"content":{"rendered":"<aside class=\"scaip scaip-1 \">\n<aside id=\"republication_tracker_tool-2\" class=\"republication_tracker_tool clearfix\">\n<h5 class=\"adtitle\">Republish for Free<\/h5>\n<div class=\"license\">\n<p><button name=\"Republish This Story\" id=\"cc-btn\" class=\"republication-tracker-tool-button\">Republish This Story<\/button><\/p>\n<p><a class=\"license\" rel=\"noreferrer license noopener\" target=\"_blank\" href=\"http:\/\/creativecommons.org\/licenses\/by-nd\/4.0\/\"><img decoding=\"async\" alt=\"Creative Commons License\" class=\"lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2023\/02\/you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister.png\"><\/a><\/p>\n<p><img decoding=\"async\" alt=\"Creative Commons License\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2023\/02\/you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister.png\"><\/div>\n<div class=\"message\">\n<p>Republish our articles for free, online or in print, under a Creative Commons license.<\/p>\n<\/div>\n<\/aside>\n<\/aside>\n<ul>\n<li>Where the Solar Incentive for Private Residences Falls Down<\/li>\n<li>A small tweak to the incentive will result in a \u2018payback\u2019 to Government<\/li>\n<li>Let\u2019s replace taxpayer cash to Eskom with Taxpayer Electricity to the Grid<\/li>\n<\/ul>\n<p>The recently introduced <a href=\"https:\/\/straton.co.za\/solar\/more-about-the-solar-incentives-from-the-2023-budget\/\">Solar Incentives in the 2023 Budget Speech<\/a> presented by Finance Minister Enoch Godongwana on Wednesday 22 February have been widely welcomed by business who will get a rebate on TAXABLE INCOME equal to 125% of their entire spend on renewable energy systems.<\/p>\n<p>The Finance Minister also announced a 15% (to a maximum of R15 000 per individual) tax liability rebate for any private residence on solar panels ONLY \u2013 not on the inverter or batteries or Balance of System costs.<\/p>\n<p>\u201cWe feel that the incentive for private households does NOT address or focus on the root cause of all our loadshedding problems, which is low generation capacity,\u201d says <a href=\"https:\/\/straton.co.za\/solar\/\">Straton Solar<\/a>.<\/p>\n<p>\u201cAs a consequence we feel that the minister could have been more generous as follows: a 25% \u2013 50% tax liability rebate to a maximum of R50 000 for Solar Panels connected to a Grid-Tie System,\u201d says <a href=\"https:\/\/straton.co.za\/solar\/\">Straton<\/a>.<\/p>\n<p>\u201cIn this way the government will ensure that generation capacity is enhanced via many micro systems feeding back into the grid and government will be getting something back from the taxpayer enjoying the tax liability rebate,\u201d concluded Straton.<\/p>\n<p>Godongwana said the rebate is only available for solar PV panels, and can be used to offset the individual\u2019s personal income tax liability for the 2023\/24 tax year up to a maximum of R15 000 per individual.<\/p>\n<p>For example, an individual who purchases 10 solar panels at a cost of R40 000 can reduce their personal income tax liability for the 2023\/24 tax year by R6 000.<\/p>\n<figure id=\"attachment_128861\" aria-describedby=\"caption-attachment-128861\" class=\"wp-caption alignright\"><a href=\"https:\/\/straton.co.za\/solar\/\"><img loading=\"lazy\" decoding=\"async\" alt width=\"600\" height=\"200\" class=\"wp-image-128861 size-full lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2023\/02\/you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-128861 size-full\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2023\/02\/you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister.jpg\" alt width=\"600\" height=\"200\"><\/a><figcaption id=\"caption-attachment-128861\" class=\"wp-caption-text\">Finance Minister Enoch Godongwana. Photo: Straton Solar<\/figcaption><\/figure>\n<p><strong>Other caveats to the solar incentive include:<\/strong><\/p>\n<ul>\n<li>Only new and unused solar PV panels qualify to ensure that the capacity is in addition to what the country already has in place. The panels can be installed as part of a new system, or as an extension of an existing system.<\/li>\n<li>Only solar PV panels with a minimum capacity of 275W per panel (design output) qualify for the rebate.<\/li>\n<li>Other components of a system \u2013 batteries, inverters, fittings or diesel generators \u2013 and installation costs do not qualify. Portable panels will also not qualify.<\/li>\n<li>Solar PV panels must be installed at a residence that is mainly used by an individual for domestic purposes. The installation will have to be proved with a certificate of compliance in terms of the Electrical Installation Regulations, 2009 to ensure safety of the installation and compliance to electric regulations.<\/li>\n<li>The solar PV panels must form part of a system that is connected to the mains distribution of the private residence<\/li>\n<\/ul>\n<p><strong>Video:<\/strong> You Missed a Golden Opportunity at Payback for Your Solar Incentives Minister<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/CNTSSagaKZE?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p><strong><a href=\"https:\/\/mypr.co.za\/You%20Missed%20a%20Golden%20Opportunity%20at%20Payback%20for%20Your%20Solar%20Incentives%20Minister\/2\/\">Boilerplate and Editor\u2019s Notes<\/a><\/strong>.<br \/><strong>More Info on <a href=\"https:\/\/straton.co.za\/solar\/\" target=\"_blank\" rel=\"nofollow noopener\">You Missed a Golden Opportunity at Payback for Your Solar Incentives Minister<\/a> here:<\/strong><br \/><strong>Twitter<\/strong>: <a href=\"https:\/\/twitter.com\/MyPE\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/twitter.com\/MyPE<\/a><br \/><strong>Facebook<\/strong>: <a href=\"https:\/\/www.facebook.com\/StratonElectrical\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.facebook.com\/StratonElectrical\/<\/a><\/p>\n<p><a href=\"http:\/\/mypr.co.za\/save-with-myprs-monthly-flat-fee\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<p> <span class=\"post-views-icon dashicons dashicons-chart-bar\"><\/span> <span class=\"post-views-label\">Press Release Views since 1 July 2022:<\/span> <span class=\"post-views-count\">32<\/span> <\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republish for Free Republish This Story Republish our articles for free, online or in print, under a Creative Commons license. Where the Solar Incentive for Private Residences Falls Down A small tweak to the incentive will result in a \u2018payback\u2019 to Government Let\u2019s replace taxpayer cash to Eskom with Taxpayer Electricity to the Grid The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":250915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3331,18,3332,9021,3330,3336,1],"tags":[3257],"class_list":{"0":"post-250914","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cape-town","8":"category-durban","9":"category-johannesburg-south-africa","10":"category-mypr","11":"category-port-elizabeth","12":"category-pretoria-south-africa","13":"category-south-africa","14":"tag-mypr","15":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2023\/02\/you-missed-a-golden-opportunity-at-payback-for-your-solar-incentives-minister.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/250914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=250914"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/250914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/250915"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=250914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=250914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=250914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}