Generous Financial Supports for Solar PV
Government Grants for Residential Solar PV
The Sustainable Energy Authority of Ireland (SEAI) administer grants which are available to improve the energy efficiency of your home. These grants cover a number of energy efficient improvements, including a grant of up to €2,400 toward Solar PV panels.
To qualify for a grant you must:
Tax Incentive on Energy Efficient Projects
The Accelerated Capital Allowance (ACA) is a tax incentive scheme that promotes investment in energy efficient products & equipment. The ACA is based on the long-standing ‘Wear and Tear Allowance’ for investment in capital plant and machinery, whereby capital depreciation can be compensated through a reduction in an organisation’s tax liability.
The ACA scheme allows a sole trader, farmer or company that pays corporation tax in Ireland to deduct the full cost of the equipment from their profits in the year of purchase.
40% Grant through Targeted Agricultural Modernisation Scheme
If eligible, the Targeted Agricultural Modernisation Scheme (TAMS) provides a 40% grant on a solar PV investment, while young qualified farmers can get up to 60% in grant aid. PV installers need to be on the SEAI register of installers or the Department of Agriculture, Food and the Marine (DAFM) approved list.
TAMS support is now available to support up to 11kW solar PV on dairy, beef, tillage and sheep farms. This complements the 40% support already available to the pig and poultry sector through the Pig and Poultry Investment Scheme 40%, which is not limited to 11kW.