IRELAND WILL ELIMINATE VAT ON THE SUPPLY AND INSTALLATION OF SOLAR SYSTEMS.
The Irish government is expected to sign and approve this measure this week. Irish Environment Minister Emon Ryan has announced that VAT on the supply and installation of solar panels for homes and public buildings will be eliminated. The VAT rate will be reduced from 23% to 0%, which is expected to save households an additional 1000 euros and shorten the investment payback time by almost a year. The Irish government will sign off on this measure this week, meaning around €1000 will be saved and the average installation cost reduced from €9000 to €8000. In combination with a maximum SEAI solar subsidy of 2400 euros, this means that the total costs for the average household solar installation will continue to drop to around 5600 euros. Ruian explained that the move will provide people with cheaper renewable energy and shorten the investment payback time from 7 years to 6.2 years (based on an average 4.5KW installation), which is shortened by almost a year. He explained that this is another step for Ireland towards cleaner, cheaper and renewable energy. This is achieved based on our planned energy saving renovation projects and micro power generation plans. Currently, thousands of households have signed agreements to return their excess renewable electricity to the grid,” he said. The Irish government has set a target of achieving 5 gigawatts of solar capacity by 2025 and increasing to 8 gigawatts by 2030. In addition, she plans to install solar panels in all schools in the country by 2025. One gigawatt is enough to supply around 750,000 households with electricity. The solar rooftop revolution is happening and the government can now help people make the transition to more efficient and cheaper solar energy more cheaply," Ryan added.
