Thailand s subsidies for installing energy storage equipment

What is Thailand doing about energy conservation?

Representational image. Credit: Canva The Thai Cabinet has approved a comprehensive set of tax incentive measures aimed at boosting energy conservation and accelerating the adoption of renewable energy among households and businesses.

What is the FIT scheme in Thailand?

The FiT scheme is a key aspect of Thailand’s renewable energy policy, guaranteeing fixed prices for energy generated from renewable sources. This policy reduces the financial risk associated with renewable energy projects, making them more appealing to potential investors.

Why is Thailand preparing tax incentives for a low-carbon economy?

The Thai government is preparing a series of tax incentives to promote a low-carbon economy and encourage investment in environmentally friendly businesses. Finance Minister Pichai Chunhavajira made this announcement at the Bangkok Post Conference 2024, held at Centara Grand at CentralWorld.

Are new solar panels tax deductible in Thailand?

Only new, Thailand-certified equipment with a 5-star energy label qualifies for the 150% business tax deduction. Second-hand or imported devices are excluded from this enhanced benefit, helping ensure quality and compliance. The permit-free, online notification process for residential rooftop solar is scheduled for late 2025.

What are the tax exemptions for electricity production in Thailand?

It is important to note that the production of electricity or steam from waste or refuse-derived fuel has been classified as an activity of special importance and benefit to Thailand. Therefore, any projects who undertake activities within this field will be granted 8-year corporate income tax exemptions.

Could a sodium-ion battery be a new business opportunity in Thailand?

The Federation of Thai Industries’ Renewable Energy Industry Club sees potential in sodium-ion battery (SIB) production as an alternative to lithium-ion batteries. SIBs, made from rock salt, could offer a new business opportunity given Thailand’s abundant rock salt reserves.