With the Accelerated Capital Allowance, when money is spent on energy efficient equipment products listed on the SEAI Triple E Register, a company can deduct the full cost of this equipment from its profits in the year of purchase.
The ACA benefits — Reduced tax bill
— Increased cash flow
— Reduced energy costs
— Clear market differentiation
The scheme was first introduced in 2008 under the Finance Act. It was extended in 2011 and, more recently in 2014, for a further three years. The scheme now supports 52 technologies across 10 categories and has successfully grown to close on 14,000 products listed.
SEAI’s technical advisors work with industry in developing the product eligibility criteria in considering market developments and standards in support of equipment efficiency performance. SEAI provides two submission periods in considering new products for inclusion each year and SEAI personnel are available to assist product providers in clarifying requirements.
Key beneficiaries Key beneficiaries of the ACA scheme include product providers such as manufacturers, distributors and agents. Product providers submit products to the ACA Triple E Register for registration to help provide confidence and clear differentiation of product performance to the marketplace.
Products listed on the ACA Triple E Register demonstrate to the market that the product is high-performing energy efficient equipment. It also provides the financial benefits offered through the ACA to clients installing the products concerned.
End-user benefits Organisations paying corporation tax benefit from the tax relief in year one of the purchase of the equipment. They also benefit financially from the energy efficiency of the equipment because of lower energy running costs.
Public sector procurement Under Public Procurement Regulations introduced in 2011 (European Union Energy Efficient Public Procurement Regulations, SI 151 of 2011), public bodies, in fulfilling an exemplary role with regard to energy efficiency, are obliged to procure only equipment which is (a) listed on the Register or (b) satisfies the published SEAI energy efficiency criteria for the equipment.
Accountants/finance Accountants managing and advising the their clients can identify the financial benefits of investing in energy efficiency equipment listed on the ACA Triple E Register in term of the tax rebate, and also the financial return on investing in energy efficiency equipment.
Architects/engineers Engineers and other specifiers who select equipment listed on the ACA Triple E Register provide clear market differentiation of the higher energy performance and greater financial benefits such products offer, together with providing an energy efficient design.
For more information and an example of how the ACA scheme works for the benefit of all log on to www.seai.ie/aca