In addition to the solar rebates & incentives in Australia, solar panels system are classified as depreciable over time as a capital asset, so solar owners in Australia get tax benefits, making solar investment even more attractive. Homeowners can claim depreciation. 

The Australian Taxation Office (ATO) determines the effective life, which is the number of years that the asset is expected to be used or have a useful life. Generally, the effective life of a solar panels system is 20 years. In Australia, solar panels system diminishing value depreciation method rate is 10% and prime cost depreciation method rate is 5%.

Businesses can claim input tax credits for solar purchases. According to the Instant Asset Write-Off Scheme or under small business tax concessions, eligible businesses can claim deductions for the full cost of solar panels system installations within the financial year.