Ireland: The cost of installing solar panels could be reduced by up to €1,000 under a plan presented by Environment Minister Eamonn Ryan.
Abolition of VAT on installation and supply of solar panels to houses and public buildings will reach the people. This project will be presented in the cabinet by the end of this week.
The cost of an average installation will reach 8,000 euros, up from 9,000 euros at present. As a result, the payback period will be reduced from seven years to 6.2 years. SEAI already provides grants for solar installations of up to €2,400, meaning the total average home solar installation will drop to around €5,600, the minister says.
There are already around 50,000 Irish homes with solar panels – and this number is expected to grow rapidly as the technology becomes cheaper and more people are attracted to it. From 2023 to 2025, major projects to install solar panels in all schools will begin.
VAT change in Ireland will be introduced in the Spring Finance Bill following the recent amendment to the EC VAT Directive. This welcome government move is another step in Ireland's journey towards clean, cheap and renewable energy.
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