(1) Subject to this section, in ascertaining the chargeable income of an individual who is resident in Saint Lucia, and during the income years 2023 to 2025, purchased a solar photovoltaic system or related components for his or her owner occupied property or installed a solar photovoltaic system or both at his or her owner occupied property is entitled to a deduction in respect of the expenditure incurred for the purchase or installation of that solar photovoltaic system or related components or the purchase and installation of that solar photovoltaic system or related components.
(2) The maximum deduction allowable under this section is $25,000 in an income year.
(3) Where 2 or more individuals contribute towards the purchase or installation of a solar photovoltaic system under subsection (1), the deduction allowable may be apportioned between the individuals in a manner as appears to the Comptroller to be reasonable up to a maximum claim of $25,000.
(4) Where a deduction is allowed under this section, a deduction is not allowed under section 38 in respect of the same solar photovoltaic system or related components.
(5) In this section, “an owner occupied property” means a dwelling house situated in Saint Lucia that is occupied by the owner alone or together with his or her family, or occupied rent-free by members of his or her family.
(Inserted by Act 19 of 2023)