Egypt .. The customs of solar panels worries investors in the sector

Ayman Heiba, Executive Director of the Energy Development Association in Egypt’s Ayman Heiba ​​denied the need to impose duties or taxes to protect the local solar panel industry, in light of the large discrepancy between supply, estimated by some estimates, to be around 11 megawatts, while demand exceeds tale amount of several times.

In an interview with Al Arabiya, Heiba ​​referred to the request of some companies operating in the field of solar energy, including the Ministry of Electricity and Renewable Energy, to cancel customs duties on solar panels.

Last December, the ministry issued a decision to impose customs duties on solar panels at a rate of 5%, although it was completely exempt. Taxes in recent years.

Heiba ​​felt that this decision increases the financial burden on companies working in the supply of solar energy equipment, which is represented in customs and value added tax of approximately 14% in addition to the fees for merging into the national network.

He stressed that the Egyptian government supports clean energy and that Egypt aims to reach 42% of the energy mix by 2035, with renewable energy.

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