Finance Minister Sammy Wilson is giving businesses parity with their UK counterparts by introducing a rates concession when they install equipment such as solar panels and wind turbines.

The Rates (Microgeneration) Order (Northern Ireland) 2012 puts Northern Ireland on an equal footing to the rest of the UK, ensuring that commercial rate payers would see no increase in their rates bills as a consequence of installing microgeneration equipment, including solar panels, wind turbines and ground source heat pumps.

Sammy Wilson said: "This Order is a harmonising measure which brings practice in Northern Ireland into line with the rest of the UK. It aligns this particular rating policy with the Executive's Programme for Government and the Strategic Energy Framework, ensuring that the installation of micro-generation equipment at business premises does not increase rate bills."

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This means that commercial ratepayers who make such improvements to their premises between now and the next revaluation in 2015 should see no change in their current rates bill in relation to the installation of microgeneration equipment.

The Minister went on to state that: "The measure is about providing the right signals to business that the Executive and Assembly support investments which businesses claim might help reduce their energy costs.

"At the moment it's quite a modest concession to make because microgeneration plant adds very little, if anything, to the rateable value of property. However, looking ahead this may become more significant and I do not wish to put Northern Ireland businesses at a disadvantage compared to those located in the rest of the UK."

(MM/GK)