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Argentina to offer tax credit for C&I solar

Source: Flickr/Finizio

Source: Flickr/Finizio

Argentina will offer businesses tax credits if they install solar for self-consumption up to a maximum system size of 2MW.

The scheme will offer 15,000 pesos (US$354) for every kW installed with a cap of one million pesos (US$23,600).

Credits will be eligible for the payment of national, value-added and income tax, according to a statement from the country’s government.

Interested parties must use the dedicated online platform to apply for the credits. The system is up and running in Buenos Aires and Córdoba with Mendoza, Río Negro and San Juan to follow. A further six provinces are working on implementation.

Any provincial incentives can be claimed alongside the new national tax credit scheme.

In addition to clearing trade hurdles for solar, Argentina is also backing a utility-scale auction process with bidding round scheduled for 22 July.

Tags: pv power plants, finance, investment, argentina, tax credits, south america, c&i

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