The advantages of solar power energy mean there are plenty of government incentives to going solar. Check which may apply to you. Solahart offers excellent financing options and advice, and weβll be happy to help you find a great deal. Federal programs include the Small-scale Renewable Energy Scheme (SRES) which provides upfront discounts for businesses installing systems under 100 kW – potentially reducing costs by around 25β30%.Β
Thereβs state schemes as well, like the Business Energy Saving and Transformation (BEST) rebate for small and medium-sized Queensland businesses. Rebates range from $4,000-$12,500, capped at 50% of project costs.Β
Businesses also earn credits for their surplus solar energy, of course –Β generally between 6 and 10 cents per kWh exported to the grid. A business with battery storage may even be able to earn additional income by joining a Virtual Power Plant (VPP) program, which supplies stored energy to the grid during periods of peak demand.
And speak with your accountant. Solar installations could qualify for accelerated depreciation under the instant asset write-off scheme, allowing your business to deduct the full cost of a solar investment in the year of purchase. Be sure to look out for any additional deductions permitted by the Australian Tax Office in future. A bonus 20% tax deduction on the cost of eligible energy-efficient assets expired in June, 2024, but who knows what else is in the works?