Eliminating the VAT rate will reduce the average solar panel installation price by €1,000, according to Irish government estimates.
Solar panels: The Irish government announces that the VAT rate will disappear
From 1 May 2023, the Irish Government will abolish the VAT rate on the supply and installation of solar panels.
With this reduction from 23 to 0%, the government also hopes to reduce the average cost of installing solar panels by about €1,000, so instead of paying €9,000 consumers will pay €8,000.
According to the government, this change will help families and businesses deal with rising energy prices and the increased cost of living. scale that would cost around 19 million euros per year.
Michael McGrath, Minister of Finance, believes that the abolition of the value-added tax rate in betting on renewable energies, through solar panels, will encourage more people to invest in this technology.
The finance minister said the measure “reinforces the government’s commitment to help households save money on energy bills, as well as reduce their carbon footprint, thus contributing to national goals to reduce climate change.”
And the environment minister, Eamonn Ryan, believes this is another step to take towards cleaner and cheaper renewable energy.
Other government measures to encourage homeowners and businesses to choose to install solar panels have also been announced:
- It is no longer necessary to ask for permission and plan to install solar panels in homes
- Increase in microgeneration subsidy scheme, reaching record levels of subsidized installations in 2022 by local solar PV scheme – operated by Ireland Sustainable Energy Authority
More and more families are betting on solar energy and selling the surplus to the grid, so that citizens become an integral part of the energy transition, as well as active consumers of energy, and also support the electricity grid and enhance Irish energy security.
The price of solar panels is expected to decrease by 2025
Ireland has more than 50,000 homes with solar panels, with 17,000 homes connected to the electricity grid last year alone.
These new measures will attract more consumers, as prices fall, solar panels become more attractive, and solar energy grows in popularity!
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