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Accelerated Capital Allowances for Energy Efficient Equipment

The Minister for Communications, Energy and Natural Resources has made an Order listing energy efficient products whose capital cost will be eligible for accelerated capital allowances under TCA97 s285A.

The Order (S.I. No. 399 of 2008) also specifies the energy efficiency criteria used to determine eligibility for inclusion on those product lists. Capital allowances of 100% will be available in the first year in which the expenditure is incurred on the equipment covered by the scheme.

This incentive will run for a period of 3 years from the date of this Order. Energy-efficient equipment purchased in the period between 31 January 2008 and now will qualify under the scheme, provided the equipment purchased in that period is on the list.

The making of this Order follows the commence- ment of FA08 s46 by the Minister for Finance (S.I. No. 397 of 2008). The scheme had required EU State Aid clearance.

S.I. No. 397 of 2008 is reproduced at Section 2.05. S.I. No. 399 (at 154 pages) is available from the Department of the Environment, Heritage and Local Government.