Business and Commercial Funding For Renewable Energy Ireland. Installing a Renewable energy system in your business can help you reduce your water heating, space heating and electricity bills, and with current energy costs constantly rising, now is the time to move to a renewable source of generating energy. The government via the Sustainable Energy Authority Ireland continues to encourage business in Ireland to switch to renewable energy, and consequently has a number of various financial benefit schemes, interest free loans and payments to help your company install a renewable energy system and save on your heating and or electricity bill.
Ground source heat pumps are an ideal solution for heating and cooling in commercial buildings. These systems can collect (for heating) or “dump” (for cooling) energy through pipes buried just below the ground. Installation costs are similar to those of conventional heating systems; running costs are much lower. Solar collectors can be particularly economical for space or water heating in large buildings. Even in Ireland’s variable climate, solar panels can provide around 60% of the hot water requirements for buildings. Solar Photovoltaic (PV) panels, which convert solar energy directly into electricity, are particularly relevant for stand-alone power systems for remote locations. On a small scale, PV panels can power electric fencing. On a larger scale, they can provide backup power where grid supplies are unreliable.
Accelerated Capital Allowances (ACAs) enable a business to claim 100% first-year capital allowances on their spending on qualifying plant and machinery. Businesses can write off the whole of the capital cost of their investment in these technologies against their taxable profits of the period during which they make the investment. This can deliver a helpful cash flow boost and a shortened payback period.