SEI offers energy efficient tax incentive scheme to businesses

Sustainable Energy Ireland (SEI) today opened the process for suppliers and manufacturers of energy efficient equipment to have their products included in a new tax incentive scheme.

The scheme called the ACA was introduced by the Government in the Finance Act 2008 to incentivise companies to purchase specified energy efficient equipment, thereby improving the overall energy efficiency of Irish businesses and assisting Ireland in meeting EU targets for the reduction of carbon emissions.

The ACA will enable companies to write off the entire cost of a specified list of energy efficient equipment in the first year of purchase, making these products more financially attractive. SEI is now inviting manufacturers and suppliers of such equipment to submit details of their products for inclusion on the ACA Specified Products List. This list will then be used by businesses buying equipment to identify which products are eligible for the tax incentive.

Brian Motherway, Head of Industry, SEI said: “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. The ACA will stimulate the market for such equipment and lead to real competitiveness gains, as well as environmental gains.”

Manufacturers and their approved suppliers can submit products online for inclusion on the specified products list once the published criteria are met. Submissions are invited to SEI by July 6, 2008 and will cover the following types of equipment:

• Building Energy Management Systems

• Lighting & Lighting Controls

• Motors & Variable Speed Drives