- Mariner may be facing BP-style crisis September 2, 2010
- BP's life on 'frontiers' of energy industry at risk August 29, 2010
- Gas prices continue unusual pre-Labor Day fall August 23, 2010
- Blackstone taking Dynegy private for $542.7M August 13, 2010
- Gulf spill investigators eye undersea evidence August 6, 2010
Renewable energy use up 20%
Posted on | November 12, 2008 | No Comments
Ireland’s use of renewable energy is growing by almost 20% a year.
A report from Sustainable Energy Ireland shows our use of renewables doubled over the four years to 2007.
As a result of a 12% increase last year, 2.1 million tonnes of CO2 emissions were avoided.
Half of last year’s renewable energy contribution came from wind energy.
Minister Ryan publishes energy efficient equipment list to qualify under the Government’s Accelerated Capital Allowance scheme
Posted on | November 11, 2008 | No Comments
Energy Minister, Eamon Ryan, today made an Order adopting the first list of energy efficient products approved for tax relief under the Government’s Accelerated Capital Allowances (ACA) for Energy Efficient Equipment initiative.
The ACA, introduced by the Government under section 46 of the Finance Act 2008, offers a tax incentive for companies to purchase energy efficient equipment. The entire purchase cost of products on the list can be written off against corporation tax in the year of purchase.
By encouraging companies to purchase energy efficient equipment, the ACA aims to improve the energy efficiency of Irish companies and assist the Government in meeting its energy efficiency and greenhouse gas emission targets,
The ACA offers an incentive to companies who are planning to purchase equipment in 5 specific categories:
- Building Energy Management Systems
- Lighting
- Lighting Controls
- Motors
- Variable Speed Drives
Speaking today, Minister Ryan said, ‘When I first introduced this scheme, my aim was to assist companies operating in Ireland to reduce their energy costs and their CO2 emissions. That aim is even more relevant in the current economic climate, with Irish businesses facing many challenges, including cost-reduction in order to improve their competitiveness. I am delighted that, from today, companies can avail of the opportunity being provided by Government to do just that - reduce an element of their overheads while at the same time, reducing their carbon emissions. This is a win-win for Irish business.’
Brian Motherway, Head of Industry at SEI said, “The opportunity now exists for companies to begin to benefit from the ACA with the completed list of eligible products now available online. This enables companies to identify the specific technologies that qualify for the tax incentive under the ACA. The savings available through this scheme on the purchase cost of eligible equipment, along with the competitiveness and environmental gains achievable through their lower energy use, make a compelling business case for companies to avail of the scheme.”
SEI is responsible for compiling the ACA list of eligible products and will maintain and regularly propose updates to the list. The eligible product list is now available on SEI’s searchable online database at www.sei.ie/aca. Over 2,800 products have been approved to be published on this list.