COVID-19 (Coronovirus), Government Stimulus & Solar

First and foremost we wish you and your family good health in the uncertain times ahead. We are hoping the peak of any disruption is minimal and we can come out the other side positioned well for a period of rebound.

As we look to find some positives in the commotion we have found some gems that may be of interest to those considering solar for their business or investment property.

Firstly the current economic environment is likely to cause some tenancy risk for those with investment property – it might be an ideal time for landlords to be looking at ways of securing tenants while helping them reduce their business expenses. Solar is a perfect starting point, with a variety of models available to share in the savings if that is a preferred option.

Secondly for those owner/occupiers who have been considering solar recently, there are some gems below to add to an already attractive return on investment available through solar.

1. Instant Asset Write-off Increased for Businesses

   For new or second-hand assets first used or installed ready for use from 12 March until 30 June 2020, the instant asset write-off threshold will be increased from $30,000 to $150,000 for businesses with aggregated annual turnover of less than $500 million (up from the current $50 million threshold). The threshold applies on a per asset basis, so eligible businesses can immediately write-off multiple assets. Click the link below to read more

   Increasing the Instant Asset Write-Off

2. Increasing STC Incentive Spot Prices

   The Government incentive payment for solar power is called the STC rebate. The STC spot price traded below $35/STC towards the end of 2018 and has been on a steady increase to where we are today almost reaching $39! This has been in increase of over 11%, and for a 100 kilowatt system this means a further $6,100 in STC incentives off the installed price.

   In short, it has never been a better STC environment to be considering solar.

3. Accelerated depreciation incentive  

   Businesses with a turnover less than $500m will be able to deduct an additional 50% of the asset cost in the at the time of installation, with the remaining cost being depreciated for tax purposes over the effective life Eligible assets include new assets acquired after the announcement and first used or installed by 30 June 2021. Second hand assets, buildings and other capital works are excluded.

4. Spinifex Energy Propping the Economy Up!

   In order to do our part for the economy we are offering we have joined with our suppliers and partners to bring limited reduced pricing to all commercial clients considering installing solar in the next 60 days.

   We are offering 10% off the total supplied and installed quoted figure for installation contracts signed on or before 30 April 2020. For an asset purchase that previously offered at least a 25% ROI, this should be an exciting proposition!

   We have some flexible financing options available also for those wanting to work out a payment plan.

   For further information please contact us via:

   EMAIL: tom@spinifexenergy.com.au

   Phone: 0419 108 638 OR

   Request a Quote

5. Exchange of Needs/Requirements

   We all have a strong network of clients and business connections. This may be a valuable commodity during this time, and thought I would put the word out that if any of you had a specific need or requirement during the next few months please don’t hesitate to email us and we can spread the word through our network.

   Whether this be a need for staffing issues, specialist finance, logistics or an out of the box query or concern please don’t hesitate to drop a line or make a call and if we can help in any way we will.

   For some further reading one of my clients has provided some good articles here:

   Combating Covid-19 With Resilience

As always we wish your family and your business the best of health, and always happy to assist where we can.