Bill to slash taxes on rooftop solar panels advances

The legislation aims to encourage individual investment in the renewable energy sector, as an alternative to using power generated by polluting power plants.

By
August 4, 2016 01:40
1 minute read.
Solar panels

Solar panels. (photo credit: REUTERS)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

A bill eliminating taxes on home wind and solar energy installations received initial Knesset approval in a plenary vote on Wednesday night.

The legislation, which earned cabinet approval on Sunday, aims to encourage individual investment in the renewable energy sector, as an alternative to using power generated by polluting power plants, according to the Finance Ministry.

Be the first to know - Join our Facebook page.


Proposed by Finance Minister Moshe Kahlon, the bill includes an exemption from paying taxes and from opening a Tax Authority file typically associated with renewable energy installations at home – like solar rooftops or wind turbines.

In addition to the tax exemption, the bill also provides tax benefits for owners who rent out spaces for the purpose of installing renewable energy facilities. By reducing the bureaucratic hurdles typically linked to renewable energy production, the hope is to reduce morbidity from air pollution, boost financial savings and increase electricity production during peak demand hours, the Finance Ministry said.

The government bill was based on a private bill proposed by MKs Yael Cohen Paran (Zionist Union) and Hamad Amar (Yisrael Beytenu), who jointly voiced their satisfaction with the legislation’s advancement.

“We congratulate the government for its support of the relieve that will exempt household electricity producers from taxes, enabling them to generate their own electricity with solar rooftops,” the MKs said in a joint statement on Wednesday morning, prior to the plenary vote. “The State of Israel, with an abundance of sun, generates less than 2 percent [of its energy from solar sources].Now... every Israel household will be able to produce clean energy and significantly reduce the cost of living.”

Related Content

Workers strike outside of the Teva building in Jerusalem, December 2017
December 18, 2017
Workers make explosive threats as massive Teva layoff strikes continue

By MAX SCHINDLER