Israel Passes Solar Tax Break
August 6, 2016 Taxation in Israel
TEL AVIV – The passing of a new bill in Israel is paving the way for a greater use of private solar panels and wind generators.
Earlier this week the Israeli Knesset approved a bill which will remove the taxes on private solar and wind generators.
Currently any individual wishing to install a solar panel or wind generator is required to pay taxes on the installation and o open a Tax Authority file.
It is believed that dropping these requirements will greatly aid the uptake of renewable generation technology, and, further, that the tax break could lead to an expansion of the industry, the creation of new jobs, and a reduced reliance on non-renewable energy.
The bill would also grant tax breaks to individuals and businesses which rent out their property to others for the installation and operation of renewable energy technology.
It is estimated that Israel currently sees less than 2 percent of its energy consumption sourced from solar panels.
Photo By: Wayne National Forest