When grid energy is costly, green energy solutions like commercial solar put the power back into your hands. At present, many conversations with business owners involve a rare opportunity “trifecta” - The combination of the current Instant Asset Tax Write Off rules, solar grants and rebates, and third-party, clean energy financing
When combined, these opportunities can make commercial solar cash flow positive for many businesses seeking to make an investment in solar and continue to keep their energy bills in check by producing their own clean, sustainable source of energy.
The Instant asset tax write-off
In the wake of the COVID-19 crisis in May 2020, a sweeping change was made to the rules around the Instant asset tax write off (IATWO), allowing more businesses to claim wider tax savings. At the time of writing, the tax write off amount has been raised to an unlimited amount for purchases made after Tuesday 6 October 2020, and installed and operational by June 30 2023.
For businesses looking to invest in commercial solar, this can mean a significant saving on your system from day one, especially when combined with solar grants and/or incentives. Learn more about the Instant Asset Tax Write Off here.
Solar Rebates, Grants and Incentives
If you’ve ever looked into solar rebates and grants previously, you may have been overwhelmed by the jargon utilised, especially depending on your state. Worry not: Our expertise in the industry, as well as our membership with the Clean Energy Council of Australia allows us to explore your full range of rebate options, and even applying on your behalf to ensure a seamless transition.
Clean Energy Financing
With your IATWO and rebates organised, you’ll no doubt be feeling confident and supported in your journey to lowering your business energy bills thanks to clean solar energy. But let’s not forget the final step in your commercial solar savings trifecta: Clean energy financing.
As Australia continues to commit to a cleaner, greener future, this support is expanding out through a wide range of industries, including finance. Clean energy Financing options recognise the importance of supporting businesses in their sustainability initiatives, and that solar energy can be a major impact on both your carbon footprint and your business’s bottom line.
Typically, clean energy finance providers also offer more competitive rates than banks due to their specialised nature.By leveraging third-party financing, your business can invest in commercial solar in a way that is cash flow positive, with the savings made in reducing costly grid bills outweighing your financing payments. And with your system paid off, you’ll be reaping the long term rewards of clean, green energy created right there on your roof.
As leaders in strategically designed commercial solar, we understand the foresight, commitment and initiative required in order to invest in a system for your work site or building. As we all continue to shake off the pandemic challenges and face down new challenges as business owners, we want to empower you with options to move your business into the future in a way that is cost effective and sustainability focused. Learn more about claiming your free solar assessment here, or call us directly on 1300 304 448
NOTE: The information provided on this website is general in nature only and does not constitute personal or commercial financial or taxation advice. The information has been prepared based on our interpretation of the IATWO program and has not taken into consideration your personal or business objectives, financial situations or needs. Before acting on any information on this website, or others, you should consider the appropriateness of the information with regard to your personal or business objectives, financial situations or needs. Speak to your Accountant, Tax Advisor or the Australian Tax Office for any questions you may have with regard to the application of the Instant Asset Write Off for your business.