Businesses within the hospitality sector that act quickly can still take advantage of the substantial 125% tax incentive available for solar energy projects completed and operational by the coming tax year end (February 28, 2025).
To meet the deadline for this generous incentive, considering the preparation and construction timelines, hotels, lodges, game reserves etc should sign up with a solar operator by mid-October 2024 at the latest to realistically be operational before March 2025, said Richard Flamand , Co-country Lead for South Africa at Swiss solar power developer, candi solar.
The key to success is partnering with the right solar developers offering end-to-end, customised solar solutions tailored to the unique energy demands of manufacturing operations, he added.
The solar tax incentive offers a 125% write-off for solar energy investments in the first year of operation with immediate savings.
'If you're thinking about going solar to achieve energy independence, ensure business continuity and save on electricity costs, now is the time to take action. Waiting will result in the limited-time tax incentive being lost to your business,' noted Flamand.
