National Treasury is inviting interested parties to participate in an online survey on the review of two renewable energy tax incentives.
The incentives are for the solar energy tax credit and the enhanced deduction for renewable energy that were introduced in the 2023 Budget Review document that coincides with the February budget.
According to National Treasury, the solar energy tax credit is for individuals that installed rooftop solar panels between 1 March 2023 and 29 February 2024.
In terms of the enhanced deduction for renewable energy incentive, it is for businesses with assets brought into use between 1 March 2023 and 28 February 2025.
“The solar energy tax credit was intended to encourage investing in clean energy generation to supplement energy supply, and the enhanced renewable energy incentive is aimed at encouraging private investment in renewable energy to alleviate the energy crisis.
“The solar energy tax credit and enhanced deduction for renewable energy have sunset clauses of 1 March 2024 and 28 February 2025, respectively. National Treasury would like to call on all interested parties to participate in an online survey on these two incentives,” National Treasury said yesterday.
It states the objective of the survey is to collect data that will assist in evaluating the overall effectiveness of the renewable energy incentives in achieving their objectives.
“The data sourced from the survey will also be used to inform future tax policies. The survey aims to provide all beneficiaries of the incentives and all interested parties an opportunity to share their experiences regarding these measures,” it says.
The survey response deadline is 31 January 2025.
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