Energy efficiency tax incentives now open for business

January 2014 News

During November 2013, the National Treasury gazetted section 12L which puts into operation deductions of energy efficiency savings in terms of the Income Tax Act of 1962. This long-awaited announcement is welcomed by the Certificated Measurement & Verification Professionals (CMVP) industry that has been advising clients for some time to prepare for this release.

The 12L allows deductions calculated at 45 cents per kilowatt hour of energy efficiency savings. A person claiming the deduction must obtain a certificate issued by an institution, board or body prescribed by the regulations. Such bodies can be found on the South African National Accreditation System (SANAS) website www.sanas.co.za.

To claim for energy efficiency savings from National Treasury the regulation requires that a baseline must be set at the beginning of an assessment year with a reporting period of the energy use at the end of the year of assessment and that such savings calculations meet the full criteria and methodology used to calculate energy efficiency savings. No double dipping is allowed, which means concurrent benefits in respect of the energy efficiency savings may not be received.

To find persons qualified to provide M&V services, the Council for Measurement and Verification of South Africa (CMVPSA) is an independent professional M&V body that represents the South African M&V industry and ensures that the quality of services and service providers is credible and transparent. Its website is www.cmvpsa.org.za.

To assist companies interested in developing an energy reduction strategy, the Energy Training Foundation offers CMVP training accredited by ECSA. The next scheduled courses will be in Cape Town 12-14 March, Johannesburg 14-16 May and 22-24 October and Kenya 23-25 June.

For more information contact The Energy Training Foundation, +27 (0) 41 367 1041, [email protected], www.energytrainingfoundation.co.za

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