Solar Accelerated Capital Allowances
For profitable companies the most advantageous way to pay for your new solar PV array is through the Accelerated Capital Allowances scheme.
According to Revenue’s “Tax and Duty Manual”, a company may claim Capital Allowances on capital expenditure it incurs on certain types of business assets.
Using the Accelerated Capital Allowances, a company can write down 100% of the cost of the asset within the first year.
The Tax and Duty Manual includes a list of “Energy Efficient Equipment including electric and alternative fuel vehicles” under the assets on which a company may claim 100% Accelerated Capital Allowances.
The category includes equipment for the production of electricity such as solar panels, inverters, batteries, mounting systems and all the ancillary equipment.
Accelerated Capital Allowances
To Summarise –
Accelerated Capital Allowances (ACA) are deductable in THE FIRST YEAR the asset is used in the business.
Accelerated Capital Allowances (ACA) cover 100% of the cost of the equipment purchased.
Accelerated Capital Allowances (ACA) may be applied to “heating and electricity provision” for any applicable company.
100% Free Solar Energy
Make sure your company avails of 100% FREE Solar Energy and purchase your Solar PV system before the ACA scheme runs out.
Your company is already approved for this scheme!
No need for any time consuming grant applications.
Simply apply the cost of your Solar PV system against your tax liabilities for this year !
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