List of tax credit equipment unveiled

A list of energy efficient products approved for tax relief under the Accelerated Capital Allowance (ACA) has been officially adopted by Government.

Energy minister Eamon Ryan announced the list for the ACA’s Energy Efficient Equipment directive earlier this week.

Under the ACA initiative, Government offers tax incentives to companies to purchase energy efficient equipment.

The full purchase price of products on the new list can be written off against corporation tax.

Minister Ryan said: “When I first introduced this scheme, my aim was to assist companies operating in Ireland to reduce their energy costs and their CO2 emissions.

“That aim is even more relevant in the current economic climate, with Irish businesses facing many challenges, including cost-reduction in order to improve their competitiveness.”

The list, compiled by Sustainable Energy Ireland, features equipment in five categories – building energy management systems, lighting, lighting controls, motors and variable speed drives.

Further measures to improve efficiency and reduce emissions will come from environment minister John Gormley’s carbon budget.

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