SEAI’s ACA scheme helps Irish firm reduce running costs by 30pc

21 Jul 2010

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Online backup provider keepITsafe is a tangible example of how investing in the Sustainable Energy Authority of Ireland’s ACA scheme can reap cash-tax benefits.

keepITsafe announced today that since purchasing €80,000 worth of energy-efficient servers, it has reduced its annual data centre running costs by 30pc.

Commenting on keepITsafe’s participation in the scheme, Energy Minister Eamon Ryan TD said: “keepITsafe has shown that significant savings can be made. Not only are they reducing their costs, but their whole business operation now runs more efficiently.”

“The Accelerated Capital Allowance Scheme allows companies to move towards implementing more energy-efficient practices and more importantly, save money,” added Eoin Blacklock, managing director, keepITsafe.

With the existing Capital Allowances tax structure, when money is spent on capital equipment, companies can deduct the cost of this equipment from their profits proportionally over a period of eight years. However, the Accelerated Capital Allowance scheme is an incentive for companies to invest in energy-efficient technology, as it allows them to write off 100pc of the purchase cost of qualifying energy-efficient equipment in the year of purchase, rather than over eight years.

The following table offers a basic list of the technology classes and the minimum amount companies need to spend to be eligible for the scheme. For more detailed information, visit the SEAI website. 

Class of Technology Minimum Amount
Motor and Drives €1,000
Lighting €3,000
Building Energy Management Systems €5,000
Information and Communications Technology (ICT) €1,000
Heating and Electricity Provision €1,000
Process and Heating, Ventilation and Air-conditioning (HVAC) Control Systems €1,000
Electric and Alternative Fuel Vehicles €1,000
Refrigeration and Cooling Systems €1,000
Electro-mechanical Systems €1,000
Catering and Hospitality Equipment €1,000

 

Equipment eligible for the ACA can be found on the specified products list on the SEAI website.

To read a more in-depth article about the ACA scheme recently published on Siliconrepublic, click here.

66

DAYS

4

HOURS

26

MINUTES

Get your early bird tickets now!

Carmel was a long-time reporter with Siliconrepublic.com

editorial@siliconrepublic.com