Solar Tax Rebates and Incentives in Singapore
Solar rebates and incentives have made the switch to solar energy an attractive option for businesses and landed property owners in Singapore. The government and other organizations offer various incentives to encourage the use of solar power, these incentives and benefits can help businesses and landed property owners save money and reduce their carbon footprint.
One of the most significant incentives for businesses and landed property owners in Singapore is the SolarNova programme. This programme provides a co-funding grant of up to 50% of the cost of installing solar panels to eligible organizations. The grant is capped at SGD 20 million per project, and the programme aims to achieve a solar capacity of 350 megawatts-peak (MWp) by 2020. The SolarNova programme has helped many businesses and landed property owners in Singapore to switch to solar power.
SolarNova Programme
Apart from the SolarNova programme, the government also offers the Enhanced Net Energy Metering Scheme (ENEMS) to businesses and landed property owners. The ENEMS allows consumers to sell excess solar power generated by their solar panels back to the grid at a higher rate. This scheme ensures that businesses and landed property owners can make the most of their solar panels and earn a higher return on their investment.
In addition to government incentives, there are several other rebates available to businesses and landed property owners who install solar panels. For example, the Energy Market Authority (EMA) offers a rebate of up to SGD 10,000 for the installation of solar panels on commercial buildings.
Furthermore, businesses and landed property owners can take advantage of the enhanced capital allowance (ECA) scheme, which allows them to claim tax deductions for the capital expenditure incurred on installing solar panels. The ECA scheme provides a tax deduction of 100% of the qualifying expenditure in the year of assessment.
Overall, solar rebates and incentives have made solar energy an attractive option for businesses and landed property owners in Singapore. These incentives can help organizations save money and reduce their carbon footprint while promoting sustainable energy practices. By taking advantage of the available incentives and rebates, businesses and landed property owners can make a significant contribution to the country’s efforts to promote the use of renewable energy. If you wish to install solar panels for your home or businesses contact us or check out the best value solar panel brands in Singapore now!
| Questions | Answers |
|---|---|
| What is the SolarNova programme? | The SolarNova programme is a government initiative launched in 2014 to promote the use of solar energy in Singapore. The programme aims to achieve a solar capacity of 350 megawatts-peak (MWp) by 2020 and provides a co-funding grant of up to 50% of the cost of installing solar panels to eligible organizations. |
| Who is eligible for the SolarNova programme? | The SolarNova programme is available to businesses, institutions, and government agencies in Singapore. Eligible organizations must have a minimum of 20 kilowatts-peak (kWp) and a maximum of 5 megawatts-peak (MWp) of solar energy capacity. |
| What is the maximum grant amount under the SolarNova programme? | The co-funding grant provided under the SolarNova programme is capped at SGD 20 million per project. The grant covers up to 50% of the cost of installing solar panels, subject to a cap of SGD 1.5 million per project per year. |
| How can organizations apply for the SolarNova programme? | Organizations can apply for the SolarNova programme through a competitive bidding process. Interested organizations must submit a proposal that meets the eligibility criteria and demonstrate the technical feasibility and financial viability of the project. |
| What are the benefits of the SolarNova programme? | The SolarNova programme provides a co-funding grant to eligible organizations, making the switch to solar energy more affordable. By installing solar panels, organizations can save on energy costs, reduce their carbon footprint, and contribute to Singapore’s efforts to promote sustainable energy practices. |
