Consultation - Tax Incentives for Energy Efficient Equipment

In accordance with section 46 of the Finance Act 2008, the Government is making available accelerated capital allowances to companies for the purchase of specified energy efficient equipment. Companies will be able to write off 100% of the cost of the following classes of equipment against their corporation tax bill in year of purchase, provided it meets energy efficiency criteria.

• Motors
• Variable Speed Drives
• Lighting
• Lighting Controls
• Building Energy Management Systems

The eligibility of equipment for these tax incentives will be determined by reference to “Energy Efficiency Criteria” that will in due course be adopted in law by Order of the Minister for Communications, Energy and Natural Resources, Eamon Ryan, T.D.

Draft Energy Efficiency Criteria have now been prepared by Sustainable Energy Ireland and are open for public consultation until 2 May 2008.

Further details are available here http://www.sei.ie/index.asp?locID=565&docID=1597