The Irish government has announced that it will abolish the Value Added Tax (VAT) on the supply and installation of solar panels. The decision is expected to save households up to €1,000 on installation costs and help promote renewable energy uptake across the country.
The new zero VAT rate on solar panels could save households up to €1,000 on installation costs. This is a significant reduction as the rate was previously set at 13.5%. The reduction in VAT will encourage more households to invest in renewable energy and help Ireland move closer to its climate targets.
The Irish Solar Energy Association welcomed the decision, stating that it will provide a much-needed boost to the industry. The association also noted that the move will create more jobs in the sector and make solar panels more accessible to the wider public.
The decision to abolish the VAT on solar panels was made as part of the Irish government’s climate action plan, which aims to make Ireland carbon neutral by 2050. As part of this plan, Minister for the Environment Eamon Ryan announced that he would also scrap the VAT on home energy storage systems and electric vehicle (EV) charging points.
Minister Ryan stated that the VAT removal on solar panels and other renewable energy systems will help make Ireland a leader in clean energy. “This is just one of the steps we need to take to achieve our goal of a carbon-neutral country by 2050,” he said.
The VAT reduction could result in a significant increase in the number of solar panels installed in the country. This could lead to a reduction in energy costs for households and businesses, as well as a decrease in greenhouse gas emissions. The decision to abolish the VAT on solar panels has been met with widespread support from industry leaders, environmental groups, and the public.
Overall, the abolition of the VAT on solar panels is a positive step towards achieving Ireland’s climate targets and promoting renewable energy uptake across the country. It is expected to provide a significant boost to the solar industry and make solar panels more affordable and accessible to the wider public.
Now more than ever, there is no better time to join the solar revolution, and Alternative Energy Ireland is here to help you make this change happen.
We understand the importance of solar power for Ireland’s future and we have helped thousands of homeowners to reduce their carbon footprint, save on electricity costs, and add more value to their homes by embracing renewable energy.