In 1962 our forefathers thought ahead and wrote section 12B of the income tax which allows a tax incentive for any form of renewables. Whether it is solar, wind, biogas, biofuel or hydro power.
This meant that business using solar could depreciate it at a rate of 50%, 30% and 20%. 50% in the first year, 30% in the second year and 20% in the last year. Last year they amended section 12B which now allows for 100% depreciation in the first year.
This incredible depreciation means that the yield on solar investments has greatly improved. With these factors taken into account, we can now have a solar system paid off, by the energy savings, in as little as three and a half years.
24 Hours a day of solar power a day is now a reality. For us its been fantastic, we have been living virtually of the grid at our home and office since March 2016. The feeling of satisfaction and being empowered by the sun is mind brilliant.
It’s not the amount of hours, it’s the amount of months that we can run if the grid is down.
Cape Town has 300 days of sunshine a year, so as long as it’s sunny on those days 300 days we can all be empowered by the sun!
Contact M Solar Power today and start reaping the benefits of a solar powered business.