New tax incentive for energy efficient equipment

A new tax incentive will allow suppliers and manufacturers of energy efficient equipment to write off the entire cost of purchase in the first year.

The Accelerated Capital Allowance was introduced by the Government in the Finance Act 2008.

It was designed to provide an incentive for businesses to purchase energy efficient equipment and assist Ireland in meeting EU targets for efficiency and emissions.

Sustainable Energy Ireland (SEI) is opening the process for companies to get their products included in the scheme and make them more financially attractive.

Brian Motherway, head of industry at SEI, has encouraged suppliers to submit details quickly to ensure they are included on the list.

“This represents a real boost for the many companies in Ireland who have already been looking at ways of improving energy efficiency as well as for the manufacturers and suppliers of energy efficient equipment,” said Mr Motherway.

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