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    Chile Passes Tax Breaks for Solar Power

    By Keith R | July 7, 2009

    Topics: Renewable Sources | No Comments »

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    The Chilean Congress today passed a law that would allow construction companies to to take a credit from their interim payments required under Income Tax Law equal to all or part of the value of solar thermal systems (solar water heating systems) and their installation they mount in buildings intended for housing (houses or apartments) — if it can be shown that the solar thermal systems will provide at least 30% of the annual average hot water demand estimated for the housing in question.  The system components must be new, and the construction company must certify the installation and its components to the municipality.

    The benefit will start 90 days from the date of publication of the Law’s implementing regulation, and only apply to homes whose building permits or the respective amendments to those permits are issued after 01 January 2008 and granted final municipal receipt after the regulation is published and before 31 December 2013.

    The Ministry of Housing and Urban Development (MINVU) may establish mechanisms for the use of this tax benefit in the programs  supported by the Solidarity Fund for Housing and Family Heritage (Fondo Solidario de Vivienda y de Protección del Patrimonio Familiar) in order to encourage the use of solar thermal systems in homes.

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