{"id":29427,"date":"2019-04-09T06:31:21","date_gmt":"2019-04-08T20:01:21","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=29427"},"modified":"2019-04-09T06:31:21","modified_gmt":"2019-04-08T20:01:21","slug":"commercial-solar-writeoff-mb1006","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-writeoff-mb1006\/","title":{"rendered":"Instant Asset Write-off For Commercial Solar Boosted"},"content":{"rendered":"
\"Commercial

Image: samfabersf<\/a><\/p><\/div>\n

The extension and expansion of Australia’s instant asset write-off scheme could be of significant benefit to businesses considering installing solar power.<\/p>\n

The scheme enables businesses to immediately fully depreciate eligible asset purchases – including solar power systems1<\/a><\/sup>.<\/p>\n

First introduced in the 2015\u201116 Budget, the instant asset write-off has been extended several times and was also to be lifted in February this year from $20,000 to $25,000. However, in the recent Budget, that threshold was upped again to $30,000.<\/p>\n

As well as boosting the limit and extending the scheme to June 30, 2020, firms with revenue of up to $50 million annually also now have access to the scheme. Previously, revenue could be up to $10 million.<\/p>\n

The Treasury Laws Amendment (Increasing the Instant Asset Write-Off for Small Business Entities) Bill 2019 passed both Houses last Thursday and the new $30,000 level is applicable to purchases made after Budget night (April 2).\u00a0 The $25,000 limit is applicable to purchases made prior to April 2.<\/p>\n

Commercial Solar A No-Brainer For Business<\/h2>\n

The cost of commercial solar power systems<\/a> has continued to drop – currently around $1,000 \u2013 $1,300 per kilowatt capacity for a good quality system competently installed, including the reduction resulting from Australia’s major solar subsidy<\/a>. This means that under the expanded instant asset write-off, a system of between 23kW and 30kW capacity could be installed.<\/p>\n

Based on a 30kW system, output should be around 120kWh a day on average2<\/a><\/sup>, or around 43,800 kWh a year – 43.8 megawatt-hours. While solar feed in tariffs can be low in some regions, the electricity generated would be produced during the hours many businesses are operating and consumed on-site. Another potential benefit is reduction in demand charges, which are based on the peak power3<\/a><\/sup> drawn from the grid. Added to this is a significant carbon footprint reduction, an issue that is becoming more pressing in the business world.<\/p>\n

These days, a commercial scale PV system in the 10-100kW range can achieve payback in as little as 4 years.<\/p>\n

Important:<\/strong> Before making a solar purchase decision or signing any contract, businesses should consult with a tax professional to determine if they are eligible for the instant tax write-off.<\/p>\n

With so much to offer businesses, it’s little wonder the popularity of commercial PV in Australia is continuing to grow. According to the Clean Energy Council<\/a>, there was a 45 per cent increase in commercial solar installations throughout 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

The extension and expansion of Australia’s instant asset write-off scheme could be of significant benefit to businesses considering installing solar power.<\/p>\n","protected":false},"author":17,"featured_media":29428,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-29427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nInstant Asset Write-off For Commercial Solar Power Boosted<\/title>\n<meta name=\"description\" content=\"The extension and expansion of Australia's instant asset write-off scheme could 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One of the few positives to emerge from Budget 2018-19 with regard to renewables was the extension of a $20,000 instant asset write\u2011off\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Small scale commercial solar power in Australia","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/commercial-solar-writeoff.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/commercial-solar-writeoff.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/commercial-solar-writeoff.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/commercial-solar-writeoff.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":38135,"url":"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/","url_meta":{"origin":29427,"position":1},"title":"Most Commercial Solar Can Now Get Instant Asset Write-Off Until June 30","author":"Ronald Brakels","date":"March 17, 2020","format":false,"excerpt":"Due to the economic hit from the coronavirus COVID-19 and bushfire disasters, the Federal Government has announced a $17.6 billion economic stimulus.\u00a0 It includes tax deduction incentives that make commercial solar power -- and other investments -- even more attractive.\u00a0 Provided it's for business, the incentives will improve tax deductions\u2026","rel":"","context":"In "Commercial Solar"","block_context":{"text":"Commercial Solar","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/commercial-solar\/"},"img":{"alt_text":"Commercial solar instant asset writeoff","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":21376,"url":"https:\/\/www.solarquotes.com.au\/blog\/budget-commercial-solar-mb0580\/","url_meta":{"origin":29427,"position":2},"title":"Positive News From Budget For Small Commercial Solar Power","author":"Michael Bloch","date":"May 10, 2018","format":false,"excerpt":"There was little in Budget 2018-19 directly related to renewables, but small businesses have been provided an extended incentive to go solar. A $20,000 instant asset write\u2011off, first introduced in the 2015\u201116 Budget, was due to end on June 30 this year. However, it will be extended for a further\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Commercial solar energy","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/small-commercial-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":73674,"url":"https:\/\/www.solarquotes.com.au\/blog\/cba-green-finance-mb2901\/","url_meta":{"origin":29427,"position":3},"title":"CBA Launches Green Asset Finance Solutions For Businesses","author":"Michael Bloch","date":"April 18, 2023","format":false,"excerpt":"A new green asset finance solution on offer from the Commonwealth Bank of Australia (CBA) for businesses is providing a discount of up to 1 per cent off the standard rate for qualifying equipment. CBA's Green Vehicle and Equipment Finance is now available for assets including: Electric cars, trucks and\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Green finance from the Commonwealth Bank","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/cba-green-finance.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":39099,"url":"https:\/\/www.solarquotes.com.au\/blog\/community-solar-grants-mb1492\/","url_meta":{"origin":29427,"position":4},"title":"Community Energy Efficiency and Solar Power Grants Still Available","author":"Michael Bloch","date":"April 21, 2020","format":false,"excerpt":"A federal community energy efficiency grants program has been very popular - so interested community groups will need to get their skates on. The Energy Efficient Communities Program - Community Energy Efficiency and Solar Grants 2020 provides groups with grants up to $12,500 for eligible activities including but not limited\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Community grants for solar energy","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/community-grants-solar.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":38365,"url":"https:\/\/www.solarquotes.com.au\/blog\/clean-energy-stimulus-mb1454\/","url_meta":{"origin":29427,"position":5},"title":"CEC Calls For Clean Energy Stimulus Package","author":"Michael Bloch","date":"March 23, 2020","format":false,"excerpt":"Australia's Clean Energy Council is lobbying federal, state and territory governments to make renewables and energy storage a key part COVID-19 response packages. The CEC wrote to governments across the country on Friday, urging them to implement a series of initiatives, including: The direct funding of installation of solar panels\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Clean energy stimulus - CEC","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/clean-energy-stimulus.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/29427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=29427"}],"version-history":[{"count":5,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/29427\/revisions"}],"predecessor-version":[{"id":29433,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/29427\/revisions\/29433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/29428"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=29427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=29427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=29427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}