In Malaysia, businesses are always on the lookout for ways to cut costs while staying ahead of the curve. What if we told you that solar energy could help you do just that? Under the Solar Outright Purchase Model like SunVertax, our solar for business solution, not only can your business reduce its energy bills, but you can also take full advantage of tax incentives. Get a free energy assessment with SunVertax today.
Here's how you can boost your savings with solar outright purchase.
1. Reduce Your Corporate Tax
When your business installs a solar photovoltaic (PV) system, you can benefit from green tax allowances in Malaysia such as Green Investment Tax Allowance (GITA) and Capital Allowance (CA).
- Capital Allowance
This allows businesses to claim up to 24% depreciation within six (6) years for solar equipment. In Malaysia, the Capital Allowance system allows your business to write off the cost of solar PV systems faster, reducing your taxable income in the initial years. By leveraging this, your business will enjoy lower taxes and immediate financial relief, which can go a long way in improving cash flow.
- Green Investment Tax Allowance (GITA)
Did you know that your investment in solar can qualify for the Green Investment Tax Allowance (GITA)? Under GITA, businesses who invest in solar PV systems can enjoy GITA by claiming 60% of qualifying capital expenditure incurred during the period of 1 January 2024 to 31 December 2026 in the following qualifying activities:- Renewable energy project
- Energy efficiency
- Qualifying assets approved by the Minister
This incentive means your business can enjoy additional tax savings while making a positive environmental impact.
2. Shortened Payback Period
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The cost of solar has reduced significantly over the years due to technological advancements and government incentives. Solutions like SunVertax gives your business full energy control AND achieve a payback period as fast as 1.5 years. A shorter payback period means your initial solar installation costs will be recovered faster, allowing your business to enjoy free energy for the remaining 20+ years of your solar PV system’s lifespan! Discover your solar ROI today!
3. Save BIG on Electricity Bills
By installing solar, your business can produce its own electricity and reduce reliance on the grid. This translates to significant of up to 75% savings on electricity bills, which is crucial in Malaysia where energy costs can fluctuate.
These savings, combined with tax incentives like GITA and capital allowance, make the transition to solar energy even more financially rewarding.
4. Trust Sunview for Seamless Solar Integration
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When it comes to solar energy solutions, Sunview, as part of the Sunview Group, is your go-to partner. With extensive experience in the Malaysian market, Sunview helps businesses like yours navigate the complexities of tax incentives, design customised solar systems and ensure that every available benefit is leveraged to the fullest.
By working with Sunview, you not only gain access to top-tier solar services but also expert guidance in maximising tax savings through SunVertax, an outright solar solution for businesses like yours. Connect with us to learn more about SunVertax.
Conclusion: A Future-Proofed Investment for Your Business
Switching to solar energy isn’t just about lowering costs but investing in a sustainable future for your business while also capitalizing on tax benefits. With incentives like the Green Investment Tax Allowance, accelerated capital allowances, your business can enjoy significant savings and boost its profitability.
Ready to reduce your corporate taxes and energy costs while contributing to a greener Malaysia? Contact Sunview today to learn how SunVertax can put you on the path to a more profitable, sustainable future.
