OSL Energy

Expanded ACA Scheme

Tuesday 5th May, 2009

Expansion of tax incentive scheme to encourage businesses to purchase energy efficient equipment                          

ICT among four new categories added to Accelerated Capital Allowance

Sustainable Energy Ireland (SEI) has today announced details of four new categories to come under the Accelerated Capital Allowance (ACA). The scheme encourages businesses to purchase energy efficient equipment by allowing them to write off the entire cost of the purchase for one year against taxable income.* The new equipment categories are:

• Information & Communications Technology (ICT)
• Heating and Electricity Provision
• Process and Heating, Ventilation and Air-conditioning (HVAC) Control Systems
• Electric and Alternative Fuel Vehicles

The announcement of the expansion of the scheme was made by SEI at the 2^nd day of the Energy Show at the RDS in Dublin. Submissions from manufacturers and suppliers of products in these new categories are now invited and can be submitted to SEI via its website www.sei.ie/aca for inclusion in the list of qualifying equipment.

Brian Motherway, Head of Industry, SEI said; “There are now more than 4000 products qualifying for these tax incentives and today’s announcement will see this number increase in the coming months. In these difficult times the savings available through purchasing more energy efficient equipment are very important and these new tax incentives will make the cost of such equipment more affordable. We also welcome the inclusion of electric and alternative fuel vehicles which is a strong signal of Ireland’s intent to be a global leader in this area.” 

Full details of the new ACA equipment categories and the Energy Efficient Transport Guide can be found on SEI’s website www.sei.ie .

Editors Notes:

* Under the ACA, a company with €100,000 profit purchasing capital equipment worth €20,000, will save €2,500 on its tax bill. 

Existing ACA categories:

-      Motors & Drives,

-      Lighting

-      Building Energy Management Systems