0.0% Solar VAT Rate starts May 2023
With 0% Vat and up to €2,400 in SEAI Grants, there has never been a better time to invest in renewable solar energy and offset rising energy costs.
The government has today (April 5th, 2023) announced that the rate of VAT for domestic solar installations will be cut from 13.5% VAT to 0.0% from May 1st 2023.
Speaking after the government meeting, Minister for Finance Michael McGrath stated:
“The government has agreed to reduce the VAT rate on the supply and installation of solar panels to zero for private dwellings from 1 May 2023. This will result in a significant reduction in the installation cost for households and I believe will encourage more people to avail of this innovative technology.
“This measure underlines the government’s commitment to help households to save money on their energy bills and reduce their carbon footprint and contribute positively to our national climate change targets. I have received approval for the measure to come in to effect from the start of next month to prevent any dislocation in supply ahead of its introduction.”
Minister for the Environment, Climate and Communications Eamon Ryan said:
“This move by Government is yet another step on Ireland’s journey to cleaner, cheaper, renewable energy. We have removed planning permission requirements to install solar panels on residential homes. Our Micro-generation Support Scheme is continuing to prove very successful, following record levels of installations supported in 2022 via the Domestic Solar PV Scheme – operated by the Sustainable Energy Authority of Ireland. With thousands of householders also signing up to sell their excess renewable electricity back to the grid; there is now an even greater opportunity for citizens to be part of the energy transition and become active energy consumers, whilst also supporting the electricity grid and strengthening Ireland’s energy security.
“While this move will help consumers, it will also help the environment. Currently over 50,000 homes have solar panels, with 17,000 solar installations connecting to the grid taking place just last year. This is expected to increase further as prices come down and solar becomes more mainstream.”
The full announcement can be read here on Gov.ie.
To book your free Solar PV consultation and arrange a free no obligation quotation contact Energlaze today and see how much you can save.