The Sustainable Energy Authority of Ireland (SEAI) is encouraging business owners to consider buying registered sustainable energy products which qualify for tax relief under the Accelerated Capital Allowance (ACA) scheme.

Tom Halpin, SEAI's Head of Information, explained that there are two ways that higher efficiency equipment can save business money.

"Firstly the equipment will consume less energy, reducing energy bills. Secondly, where the equipment purchased is registered with SEAI and eligible for the Revenue Commissioner's Accelerated Capital Allowance, the companies can deduct the full cost of the eligible equipment from taxable profits in the year of purchase rather than over the usual eight year period. This will contribute to a company's cash flow and competitiveness," he said.

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First introduced in 2008, the ACA was extended in Budget 2015 for a further three years. The allowance extends to 10 major categories of energy using equipment including lighting, heating, ventilation, refrigeration, catering, motors and information communications technology (ICT).

(CD/JP)