In a bid to encourage more people to opt for renewable energy, Green Party leader Eamon Ryan is slashing VAT to 0% on the supply and installation of solar panels on homes and public buildings.
The move, due to be signed off on by the Government this week, will mean a saving of approximately €1,000, bringing the average €9,000 cost for installation down to €8,000. When combined with the SEAI solar grant of up to €2,400, this means that the total average home solar installation will fall to about €5,600. Mr Ryan said the VAT change will give people cheaper renewable energy and reduce their payback period by nearly a year, from seven years to 6.2 years, based on an average 4.5KW installation for homes. The minister said: “This welcome Government move is yet another step on Ireland’s journey to cleaner, cheaper, renewable energy.