- Grants & Support
Grants & Support
- Solar PV Fact Sheet for Agri -Sectorhttps://www.teagasc.ie/media/website/publications/2018/Teagasc-A4-Energy-Fact-Sheet-No.-11-Solar-Energy_4pp.pdf
- Panansonic Air Source Heat Pump Certified InstallerWe are pleased to announce we have completed training with Panasonic Heating and Air Conditioning, to allow us to partner with this well established brand for the future.
One of the most attractive aspects of the products and services is the 7 Year Warranty on their Air Source Heat Pumps.
Please contact us for competitive quotation .
- Accelerated Capital Allowance in Republic of Ireland
Has your company recently acquired energy efficient equipment? Or looking into doing so in the future?
Why not reduce this year's corporation tax bill and claim 100 per cent of the expenditure under the Accelerated Capital Allowances Scheme.
What is the Accelerated Capital Allowances Scheme?
The Accelerated Capital Allowances Scheme (ACA) was introduced as a tax incentive for expenditure incurred on approved energy efficient equipment on or after 31 January 2008. At present, the relief is due to expire on 31 December 2014.
The scheme allows the company to claim 100 per cent of the capital cost of the eligible efficient capital equipment against any corporation tax paid in the year of purchase. The aim of the scheme is to encourage companies to invest in energy saving technologies and it also offers the benefit of reducing the company's corporation tax liability for the year in question.
Who can qualify for the ACA scheme?
The scheme is only available to companies. Therefore, the relief is not available to sole traders or partnerships.
What criteria are attached to the scheme?
The approved energy efficient equipment must be new and it must be used wholly and exclusively for the purposes of the company's trade. The equipment must also be in use at the end of the tax year in which the allowances are claimed. Accelerated capital allowances may not be claimed on any energy efficient equipment that is leased, let or hired.
What equipment can I claim the capital allowances on?
The ACA scheme currently covers ten categories of equipment and, in total, 52 different types of technologies. The equipment must be included in the specified list which is maintained by Sustainable Energy Ireland (SEI). Examples of the equipment outlined on the list include:
- Motors and drives
- Information and communication technology
- Electric and alternative fuel vehicles
- Refrigeration and cooling system
- Catering and hospitality equipment
- Renewable Energy Systems
This approved list is updated on the regular basis. A company is required to incur a minimum amount of expenditure on providing the equipment and this varies with the particular category to which the product belongs. The minimum expenditure limit for most categories is €1,000.
How does the ACA scheme work?
Generally speaking, wear and tear allowances for plant and machinery are given over an eight-year period at an annual rate of 12.5 per cent of the capital expenditure incurred. This capital allowance is taken as a deduction against the company's net profit for the period.
Where the capital expenditure consists of approved energy-efficient equipment, this rate is accelerated and so 100 per cent of the allowance, rather than the standard 12.5 per cent, can be claimed in the first year in which the equipment is provided and used for the company's trade.
Capital allowances can be claimed in the normal manner (i.e. at 12.5 per cent) on energy-efficient equipment that is not included on the approved list.
How is the relief claimed?
There is no requirement to obtain approval from Revenue in order to claim the accelerated capital allowances. The normal self-assessment rules apply and so the company should claim 100 per cent of the allowances in the year in question, where it has fulfilled all the necessary conditions. The claim should be included as normal on the company's annual corporation tax return in the relevant section under the heading "Trading Results”.
- Renewable Energy on Farms
Check out our download sections for information on cost savings if solar hot water replaced electric immersion heating in Milking parlours.
Also, see document on rainwater harvesting systems on farms which could greatly reduce mains consumption.
- SEAI - Better Energy SchemeBetter Energy Homes Scheme - www.seai.ie
Grants of €800 flat rate available to domestic houses built before 2006.
BER rating completed after installation and copy presented to homeowner. The Irish Government, through SEAI, wishes to encourage people to improve the energy performance of their homes by incentivising the cost of installing various upgrade measures.
The Better Energy Homes scheme provides assistance to homeowners to reduce energy use, costs and greenhouse gas emissions and improve the comfort levels within their home.
The objectives of the scheme are to:
- Support homeowners in making intelligent choices to improve the energy performance of their home Reduce energy use, costs and greenhouse gas emissions
- Build market capacity and competence by driving contractor standards and quality Stimulating market innovation
The incentive is in the form of a Cash Grant. Cash grants are fixed, irrespective of home size, though where actual expenditure is lower than the grant value only the lower amount will be paid.
Payment is by Electronic Funds Transfer to the applicant’s bank.