The 2023 Small Business Energy Incentive
The Albanese Government has introduced the Small Business Energy Incentive, which offers small businesses with a turnover of less than $50 million an additional 20% tax deduction for essential electrification products. By investing in energy-efficient options such as batteries, heat pumps, and efficient appliances, small businesses can lower their energy bills.
What Is The Small Business Energy Incentive?
Businesses can qualify for a bonus tax deduction of $20,000 by investing up to $100,000 in any of the available options. This initiative will benefit cafés and restaurants that can switch from expensive gas to commercial induction cooktops, tradies who can replace their generators with batteries, and any small business with a hot water system that can upgrade to an Australian-made heat pump.
The Small Business Energy Incentive is a timely initiative that supports small businesses in reducing their energy bills while helping Australia reach its 2030 emission reduction targets. Additionally, this program can help small businesses pass on cheaper energy costs to their customers, leading to a positive impact on the economy.
The Smart Energy Council Has Welcomed ThE Small Business Energy Incentive
The Smart Energy Council’s Federal Budget submission and Electrify Parliament Day lobbying effort align with the Small Business Energy Incentive’s objectives of promoting the use of tax incentives to encourage the switch to energy-efficient products. This program is a great opportunity for small businesses to invest in energy-efficient options and reduce their environmental impact.
This is a great way the Australian government is increasing the advert of renewable energy and fully supported by us at Lightning Energy.
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About your author...
On a mission to electrify Australia. Luke is known for being at the forefront of his industry offering design, supply, installation and advice on solar panels, solar batteries, lighting, electric vehicles and chargers.
Luke has been known to invest most of his time (and money) in helping people create and experience new lifestyles through clean energy at home, business and with their cars. As well as investing his time training the next generation of climate enthusiasts through his team at Lightning Energy.