No V.A.T on Solar Panels!
The Irish government has announced that it will remove the value-added tax (VAT) on PV panels, to make them more affordable for homeowners and businesses. This decision comes as part of the government’s efforts to increase the uptake of solar power and reduce Irelands carbon emissions, in line with the carbon action plan.
What is VAT?
VAT is a tax that is applied to most goods and services in Ireland, including solar panels. The current rate of VAT on solar panels is 13.5%, which can add a significant cost to the installation of a solar PV system.
Why Remove VAT on Solar PV Panels?
The government’s decision to remove VAT on solar PV panels is part of their commitment to achieving its renewable energy targets. It is hoped that by making solar PV systems more affordable, it will encourage more households and businesses to invest in this technology and reduce their carbon footprint.
As well as the environmental benefits solar PV systems can also provide significant financial savings over the long term. By generating their own green electricity, homeowners and businesses can reduce their reliance on the national grid and avoid rising energy prices.
What are the Benefits of this Announcement?
Removing V.A.T on Solar PV Panels is a great start towards making Ireland’s energy needs more sustainable for the future. With PV systems being more accessible and affordable it will also stimulate growth in the PV industry, creating new jobs and opportunities for investment.
With the installations of new PV systems expected to grow, Ireland will be able to reduce its reliance on fossil fuels and move closer to achieving its renewable energy targets. This will benefit the environment but also reduce costs and increase energy security.
Taking action and removing the v.a.t is a great step the Irish government has made towards a more sustainable future for Ireland the decision is expected to benefit households and businesses across the country, providing long-term financial savings and a cleaner energy source. This move by the government is a clear indication of its commitment to achieving its renewable energy targets and creating a more sustainable future for all.