The Government’s decision to exempt lithium-ion and lithium ferrophosphate batteries from general consumption tax (GCT) is being hailed by one player in the solar energy sector as a positive move.
Alex Hill, president of the Jamaica Renewable Energy Association, told The Gleaner on Wednesday that the removal of the tax by Finance and the Public Service Minister Dr Nigel Clarke would go a long way in reviving the sector and benefiting residential customers.
Clarke said that GCT will be exempted on the lithium-ion batteries in the first quarter of the new fiscal year.
In closing the 2022-23 Budget Debate in Gordon House on Tuesday, Clarke said that the popularity of the lithium-ion batteries has been growing as an energy-storage technology. He said this should help reduce the cost associated with electricity generation.
In a Gleaner interview last year, Hill complained…
Battery tax exemption to fire up solar energy sector, says Hill | Lead Stories
