{"id":38135,"date":"2020-03-17T15:28:32","date_gmt":"2020-03-17T04:58:32","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=38135"},"modified":"2020-03-17T15:53:40","modified_gmt":"2020-03-17T05:23:40","slug":"commercial-solar-write-off","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/","title":{"rendered":"Most Commercial Solar Can Now Get Instant Asset Write-Off Until June 30"},"content":{"rendered":"<div id=\"attachment_38224\" style=\"width: 1210px\" class=\"wp-caption alignnone\"><img decoding=\"async\" aria-describedby=\"caption-attachment-38224\" class=\"wp-image-38224 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg\" alt=\"Commercial solar instant asset write-off\" width=\"1200\" height=\"628\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus-300x157.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus-1024x536.jpg 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus-768x402.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><p id=\"caption-attachment-38224\" class=\"wp-caption-text\">It&#8217;s a great time to buy commercial solar power to slash your energy bills. And the new $150,000 instant asset write-off can reduce your tax bill too.<\/p><\/div>\n<p>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 &#8212; and other investments &#8212; even more attractive.\u00a0 <!--more-->Provided it&#8217;s for business, the incentives will improve tax deductions for solar systems of almost any size, including:<\/p>\n<ul>\n<li>Small solar systems of only a few kilowatts for small businesses with limited roof space.<\/li>\n<li>Large systems with thousands of panels on the roofs of factories, warehouses, and shopping centres or mounted on the ground nearby.<\/li>\n<li>Huge solar farms with hundreds of megawatts of capacity.<\/li>\n<\/ul>\n<p>The incentives are front loaded.\u00a0 This means the greatest benefit will apply to solar systems of $150,000 or less purchased this financial year, but there will still be an incentive that applies to almost all commercial PV systems installed until the 30th of June 2021.<\/p>\n<p>The incentives apply immediately.\u00a0 The image below was taken from the summary table in the Australian Government&#8217;s <a href=\"https:\/\/treasury.gov.au\/sites\/default\/files\/2020-03\/Overview-Economic_Response_to_the_Coronavirus.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Economic Response To The Coronavirus document<\/a> and gives the names of the tax deduction incentives and when they end:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38152 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum.png\" alt=\"Australian Government instant asset write-off\" width=\"1006\" height=\"213\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum.png 1006w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum-300x64.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum-768x163.png 768w\" sizes=\"(max-width: 1006px) 100vw, 1006px\" \/><\/p>\n<h2>Incentive 1:\u00a0 Increasing The Instant Asset Write-Off<\/h2>\n<p>I&#8217;m not an accountant, so I&#8217;ll just copy what the government wrote below without attempting to give any advice on how it may apply to any particular business.\u00a0 If you want specific advice you&#8217;ll have to ask someone who is better with money than I am:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38158 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stiminstant.png\" alt=\"Instant asset write-off details\" width=\"1130\" height=\"224\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stiminstant.png 1130w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stiminstant-300x59.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stiminstant-1024x203.png 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stiminstant-768x152.png 768w\" sizes=\"(max-width: 1130px) 100vw, 1130px\" \/><\/p>\n<p>My solar focused mind interprets that as saying you can install a solar system for a business of up to $150,000 and write it all off as an instant tax deduction, provided:<\/p>\n<ul>\n<li>Your business has an annual turnover of less than $500 million &#8212; which is most businesses.<\/li>\n<li>You get it done this financial year &#8212; before the 30th of June 2020.<\/li>\n<\/ul>\n<p>This can apply to every purchase of $150,000 or less, so it could be used for commercial solar power and as many other things as your business can afford.\u00a0 For example, a business could use it for insulation, an energy management system, and ways to reduce or eliminate natural gas consumption.\u00a0 Provided each purchase is within the $150,000 limit they can all have instant asset write-off until the end of this financial year.<\/p>\n<h2>$150,000 Can Easily Pay For 100 Kilowatts Of Solar Power<\/h2>\n<p>Generally speaking, $150,000 is more than enough to pay for 100 kilowatts of solar capacity, although it will depend on the difficulty of the installation and the location.\u00a0 It will also depend on the cost of the solar panels used, but there are many that have demonstrated reliability and are competitively priced.\u00a0 Our <a href=\"https:\/\/www.solarquotes.com.au\/commercial-solar-guide.html\" target=\"_blank\" rel=\"noopener noreferrer\">commercial solar guide<\/a> has a graphic of all the solar panel manufacturers we have confidence in with regard to panel quality and customer service:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38192 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/101panels.jpg\" alt=\"solar panel brands\" width=\"800\" height=\"832\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/101panels.jpg 800w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/101panels-288x300.jpg 288w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/101panels-768x799.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>Solar systems of up to 100 kilowatts of panel capacity can receive STCs or Small-scale Technology Certificates that lower the cost of solar power.\u00a0 Provided you have enough space for the panels, I recommend getting as close to 100 kilowatts as you reasonably can.<\/p>\n<p>Because solar panels have fallen so far in price it can now be worthwhile to place them in sub-optimal locations, such as south facing roofs.\u00a0 Unfortunately, in many locations commercial solar power will be export limited and unable to send all surplus energy it generates into the grid for a solar feed-in tariff.\u00a0 As this reduces the return from a larger system, it will need to be taken into account.<\/p>\n<p>Commercial solar installations can be over 100 kilowatts, but rather than STCs they will receive LGCs, or Large-Scale Generation Certificates, for energy generated.\u00a0 The overall return from these over the next 10 years they can be created is expected to be far less than the value of STCs.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/#en-38135-1' id='enref-38135-1' onclick='return hhEndnotes_show(38135)'>1<\/a><\/sup>\u00a0 You can find more information in our <a href=\"https:\/\/www.solarquotes.com.au\/commercial-solar-guide.html\">Commercial Solar 101 Guide<\/a>.<\/p>\n<h2>Incentive 2:\u00a0 Backing Business Investment<\/h2>\n<p>The second tax incentive is called &#8220;Backing Business Investment&#8221;.\u00a0 The Economic Response document states:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38165 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimbacking.png\" alt=\"Backing business investment - Australian Government\" width=\"1123\" height=\"208\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimbacking.png 1123w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimbacking-300x56.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimbacking-1024x190.png 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimbacking-768x142.png 768w\" sizes=\"(max-width: 1123px) 100vw, 1123px\" \/><\/p>\n<p>If a business investment of up to $150,000 is made this financial year it can use the instant asset write-off incentive, but any investment &#8212; regardless of its expense &#8212; can deduct 50% of its price with normal depreciation applying to the rest, just so long as:<\/p>\n<ul>\n<li>The business has an annual turnover of less than $500 million.<\/li>\n<li>It occurs before the end of next financial year &#8212; the 30th of June 2021.<\/li>\n<\/ul>\n<h2>Large Scale Solar Farms Can Deduct 50%<\/h2>\n<p>The Backing Business Investment incentive can apply to investments of up to any size within the $500 million a year business turnover limit.\u00a0 This makes it suitable for large scale solar farms of potentially hundreds of megawatts.\u00a0 So if you want to build a solar farm or commercial solar of over 100 kilowatts capacity, this tax incentive could be very useful.<\/p>\n<h2>Weak Dollar &amp; Supply Disruptions<\/h2>\n<p>The Australian dollar has fallen to its lowest point against the Chinese Yuan for at least 10 years.\u00a0 This is the currency that matters the most for solar energy because China produces the bulk of the world&#8217;s solar panels and inverters.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38218 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/audrimembi.png\" alt=\"Australian dollar and Chinese Yuan\" width=\"845\" height=\"388\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/audrimembi.png 845w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/audrimembi-300x138.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/audrimembi-768x353.png 768w\" sizes=\"(max-width: 845px) 100vw, 845px\" \/><\/p>\n<p>While I expect the Australian dollar will recover, it may not happen this financial year and it may be weak through the next financial year.\u00a0 This means the cost of solar hardware may increase slightly. But commercial solar power will still be a very effective investment for many businesses.<\/p>\n<p>Another factor that can influence the availability of solar hardware are supply disruptions caused by the virus shutting down factories.\u00a0 The good news here is China has done very well in combating the virus, despite a worrying start.\u00a0 China&#8217;s active infections &#8212; people who suffering from the coronavirus now &#8212; have fallen to about one sixth their peak:<\/p>\n<div id=\"attachment_38202\" style=\"width: 885px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-38202\" class=\"wp-image-38202 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/activecaseschina.png\" alt=\"Coronavirus COVID-19 active infections in China\" width=\"875\" height=\"532\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/activecaseschina.png 875w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/activecaseschina-300x182.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/activecaseschina-768x467.png 768w\" sizes=\"(max-width: 875px) 100vw, 875px\" \/><p id=\"caption-attachment-38202\" class=\"wp-caption-text\">(Image: Worldometer)<\/p><\/div>\n<p>This hopefully means Chinese production will soon recover and &#8212; given how China normally operates &#8212; they are likely to try to meet export demand before domestic demand.<\/p>\n<h2>Installers Are Likely To Meet Demand &#8212; If You Don&#8217;t Leave It Too Late<\/h2>\n<p>Australia and the world are currently in an economic slowdown and so, at the moment most businesses &#8212; including solar installers &#8212; are looking for work.\u00a0 The purpose of the Government&#8217;s economic stimulus is to keep people employed by encouraging investment.\u00a0 But because there is less than two and a half months to take advantage of the Increased Instant Write-Off tax incentive it is possible there will be a rush to buy commercial solar systems before July 1st.<\/p>\n<p>What you will need to watch out for are installers who are not up to the job, but trying to take advantage of the short term opportunity the tax incentive provides.\u00a0 (Expect to see ads telling you to rush before the incentive runs out.)\u00a0 If you find a commercial solar installer through SolarQuotes, we will only recommend those we know do quality work and have been personally vetted by my boss, Finn.<\/p>\n<p>If you are considering solar powering your business, then we have a comprehensive <a href=\"https:\/\/www.solarquotes.com.au\/commercial-solar-guide.html\">guide to getting quotes for commercial solar power here<\/a>. You&#8217;ll be a confident commercial solar buyer in under 10 minutes.<\/p>\n<p>And when you are ready to get quotes from installers who have lots of commercial experience, <a href=\"https:\/\/www.solarquotes.com.au\/quote\/quote1commercial.php\">you can get up to 3 quotes for commercial solar here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &#8212; and other investments &#8212; even more attractive.\u00a0<\/p>\n","protected":false},"author":10,"featured_media":38224,"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":[683],"tags":[],"class_list":["post-38135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-solar","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Most Commercial Solar Can Now Get Instant Asset Write-Off Until 30 June<\/title>\n<meta name=\"description\" content=\"The Federal Government announced a $17.6 billion economic stimulus including tax deduction incentives that makes commercial solar power even more attractive\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Most Commercial Solar Can Now Get Instant Asset Write-Off Until June 30\" \/>\n<meta property=\"og:description\" content=\"The Federal Government announced a $17.6 billion economic stimulus including tax deduction incentives that makes commercial solar power even more attractive\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-17T04:58:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-17T05:23:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ronald Brakels\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BrakelsRonald\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" 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