Can investors in solar power system installations still benefit from tax exemptions?

Did you know?
A wide range of businesses can enjoy BOI privilegesfrom agriculture and manufacturing to digital, logistics, and many more.

Easy investment, real benefits!

BOI comes with attractive incentivesboth tax exemptions and various forms of support for modern investors.
With BOI, your investment means double advantages.

Cut costs, unlock growth opportunities

Looking to invest in clean energy?
Discover which projects qualify for BOI privilegesand which do notbefore you make your move!

1. Can I apply for BOI privileges by installing only solar panels?

If you install only a Solar PV System, you cannot apply for BOI privileges.

However, if you install Solar PV + an Energy Storage System (BESS), you may apply for BOI privilegesbut the incentives will cover only the BESS, not the solar panels.

2. Key Conditions for BOI

Investment must be in projects related to BESS (Battery Energy Storage Systems).
Maximum eligible investment: up to 12 million THB per megawatt (MWp).

Other privileges include: Corporate income tax exemption for up to 3 years ,

Import duty exemption ,Permission to employ foreign experts

3. Business Sectors Eligible for BOI Incentives

Businesses in BOIs targeted industries, such as:

Agriculture and food processing

Electric vehicle (EV) and battery industries

Electronics components manufacturing

Clean energy production

Digital technology and R&D
Smart transport and logistics

4. Solar Investments That Qualify and Do Not Qualify for BOI

Investments eligible for BOI incentives

Commercial solar power projects (e.g., Solar Farms, Floating Solar, Hybrid systems
Projects with a Power Purchase Agreement (PPA) with EGAT, PEA, or MEA
Solar systems installed in BOI-promoted industrial sectors
R&D projects or manufacturing of solar-related equipment

Investments not eligible for BOI incentives

Small-scale solar rooftops for reducing electricity bills in residential or general buildings
Solar installations for self-consumption in organizations not classified under BOI-promoted sectors
Solar installation contractors that do not generate electricity themselves

5. BOI Incentives

1. Tax Incentives

Corporate income tax exemption for up to 3 years (depending on business type)
Additional 50% reduction in corporate income tax for 5 years
Import duty exemption on machinery (0% rate)
Import duty exemption on raw materials for export production

2. Non-Tax Incentives

Land ownership rights for foreign investors
Permission to employ foreign specialists and experts
Fast Track process for project approvals
Allowance for foreign shareholding exceeding 49% (depending on business type)

Installing solar panels alone is not eligible for BOI incentives.
However, if combined with an Energy Storage System (BESS) or invested in a targeted industry supported by BOI, there is still an opportunity to receive special privilegessuch as tax exemptions and non-tax benefitswhich can significantly reduce overall investment costs.

We are happy to offer you a free initial consultation along with a feasibility and costbenefit assessment.

Contact us at: 061-851-6466
LINE: @unicon.thailand
Website: www.uniconthailand.com