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50% Tax Deduction for the Purchase of Photovoltaic Batteries
Nov 27, 2024
50% Tax Deduction for the Purchase of Photovoltaic Batteries
Today, it is even easier to invest in a photovoltaic system with an energy storage unit, thanks to various tax incentives for the installation of solar panels and storage batteries.
In particular, for those installing photovoltaic systems, the deduction can be part of the Renovation Bonus, which offers a 50% deduction for photovoltaic installations.
50% tax deduction: is about a 50% tax deduction on the cost of purchasing and installing a photovoltaic system for residential properties across Italy. The deduction is spread out over 10 equal annual installments. This incentive is available until December 31, 2024, with a maximum spending limit of €96,000.
How Does the 50% Deduction for Photovoltaic Batteries Work?
The tax deduction for photovoltaic batteries is part of the 50% tax deduction provided for energy-saving and renovation works, which includes the installation of photovoltaic systems and energy storage solutions.
Advantages of Installing a Photovoltaic System
Why is it worth installing a photovoltaic system? Some of the main advantages include:
Self-consumption: The energy generated by the photovoltaic panels can be used for your own consumption, reducing the need to draw energy from the national grid.
Savings on gas: Photovoltaic energy can also be used to power heating and hot water production, further reducing gas costs.
Increased property value: Installing a photovoltaic system increases the value of the property on the real estate market, especially in light of the new green building regulations recently introduced.
Requirements for the Bonus
To qualify for the 2024 Photovoltaic Bonus, the following conditions must be met:
Savings on gas: Photovoltaic energy can also be used to power heating and hot water production, further reducing gas costs.
Increased property value: Installing a photovoltaic system increases the value of the property on the real estate market, especially in light of the new green building regulations recently introduced.
Requirements for the Bonus
To qualify for the 2024 Photovoltaic Bonus, the following conditions must be met:
- The system must be installed on a residential building.
- The expenditure must be incurred by individuals (citizens with legal capacity).
- The installation must be carried out by an authorized company.
- All documents supporting the expenditure and confirming the compliance of the installation must be kept.
How to Apply for the Bonus
The bonus can be claimed in two ways:
The bonus can be claimed in two ways:
- By including the deduction in your income tax return, filling out section F of the 730 form or section H of the Unico form.
- Alternatively, by submitting the relevant documents that prove the expenses and compliance of the installation to the Revenue Agency (Agenzia delle Entrate).
Who Can Apply for the 2024 Renovation Bonus?
The Renovation Bonus can be requested by all taxpayers, whether residents or non-residents in Italy. This benefit is not limited to property owners or those with real property rights, but extends to anyone who holds personal rights to the property and covers the expenses for the work.
The Renovation Bonus can be requested by all taxpayers, whether residents or non-residents in Italy. This benefit is not limited to property owners or those with real property rights, but extends to anyone who holds personal rights to the property and covers the expenses for the work.
Deadline for the Renovation Bonus
The Renovation Bonus is available until December 31, 2024. The Decree-Law 39/2024, updated with the government amendment on May 16, 2024, has redefined percentages, amounts, and deadlines for the renovation bonuses:
- Until December 31, 2024: 50% deduction with a maximum spending limit of €96,000 (maximum deduction: €48,000).
- Until December 31, 2027: 36% deduction with a maximum spending limit of €48,000 (maximum deduction: €17,280).
- From January 1, 2028: 30% deduction with a maximum spending limit of €48,000 (maximum deduction: €14,400).
What’s New from 2025?
The government has extended the 50% Renovation Bonus for another year, but with the €96,000 spending cap limited to primary residences only. For main homes, the Renovation Bonus 2025 will continue under the most favorable conditions for one more year, with the restriction applying to first homes only.
The government has extended the 50% Renovation Bonus for another year, but with the €96,000 spending cap limited to primary residences only. For main homes, the Renovation Bonus 2025 will continue under the most favorable conditions for one more year, with the restriction applying to first homes only.
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The Coenergia Team