Updated Nov 18th
Accelerated wear and tear allowances are available to companies that purchase certain energy efficient equipment for the trade.
Instead of receiving allowances for expenditure over the standard period of eight years, allowances are granted in full in the year of acquisition.
The Government are extending the regime by three years up to accounting periods ending 31st December 2023.
The energy efficiency of the scheme will also be re-assessed.
The budget speech suggested that the scheme would be expanded, and the SEAI has authority to update the list as required.
Building Energy Management Systems [BEMS] qualify and all field devices necessary to perform the energy saving function are included in the BEMS.
For further information on criteria a BMS must meet to qualify download the PDF here.
Contact IBC’s team to discuss your BMS needs here
With budget 2021 announced earlier this week, now is a good time to evaluate how your business might benefit from the Irish government’s willingness to borrow billions to invest in our economy. One such incentive is the Accelerated Capital Allowance (ACA), which aims to promote sustainable energy efficient businesses by offering a “sole trader, farmer or company that pays corporation tax in Ireland to deduct the full cost of the equipment from their profits in the year of purchase” (SEAI, 2020)
Benefits of BMS for your business
Upgrading your current building management system (BMS), or installing one for the first time, can result in savings of both energy and cost. Generally, a BMS has two main functions; to optimise energy efficiency of the building and provide suitable comfort and wellbeing for its occupants. A BMS will monitor key energy drainers such as lighting, heating, and cooling.
How IBC can help your business
One such group of products that qualifies is Building Management Systems, solutions, and field devices. Intelligent Building Controls Ltd (IBC) is Ireland’s premium supplier of BMS, Controllers and Field Devices. Energy efficiency is at the core of IBC’s business model; and IBC provides the products, systems, and solutions to develop and manage the most effective energy efficient buildings possible. IBC works closely with a network of approved, trained and certified System Integrators, Engineering Companies, Mechanical and Electrical Companies, Facility Management Companies and more.
Deciding on equipment requirements
IBC can assist you and your business in finding the right BMS for your specific needs. IBC’s trained and friendly staff are ready to take you through the next steps of your energy efficiency journey. Contact sales engineer Richard Costa today for a free consultation at [email protected] or phone +353 1 457 5421