triple e products register & accelerated capital allowance (aca) madeline hallinan programme...
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Triple E Products Register& Accelerated Capital Allowance (ACA)
Madeline Hallinan
Programme Manager
Who We AreThe Sustainable Energy Authority of Ireland (SEAI) was set up by the government in 2002 as Ireland’s national energy authority.
Our MissionTo play a leading role in transforming Ireland into a society based on sustainable energy structures, technologies and practices.
Key Strategic Objectives•Energy efficiency first•Low carbon energy sources•Innovation and integration
Introduction
Energy Agreements – EN 16001
Energy Assessments for SMEs
Energy MAP (Management Action Programme) Training
Get started
Get basic training
Get certified
Awards
Grants and accelerated capital allow
ances
Energy MAP W
eb site
Small Business Training(Energy Efficiency)
Get a programme
Large Industry Energy Network Get networking
Business Support Available
Business page
Technology Guides
Identifies opportunities for saving with lighting systems
•General Lighting Guide•Offices•Retail•Hospitality•Schools•Libraries•Manufacturing & Warehouses•Sports and Leisure•Lighting Controls•Hospitals•Exterior Spaces
Triple E Products Register:•Register of highly energy efficient products based on stringent criteria
• Note: Products are not Approved or Accredited
•Energy efficiency procurement benchmark.•SI 151-2011, requires Public Sector procure against Triple E criteria
Accelerated Capital Allowances (ACA)•Tax incentive for specific energy efficient products listed on the Triple E Products Register
Triple E Overview
Triple E online
www.seai.ie/TripleE
Triple E product search tool
ACA online
www.seai.ie/aca
What is the ACA?
What is the ACA?
• It’s a tax incentive (not a grant!) introduced in the 2008 Finance Act runs until 2014
• Specifically for companies paying corporation tax.
• Write-off 100% of eligible equipment cost against profit in the first year (normally over 8 years!).
How the ACA works
ACA example:•Company profit = €100,000•Tax on profit @ 12.5% => €12,500 as standard tax bill•Equipment expenditure = €20,000
W/o ACA With ACA
Equipment costs deductable from profit
Remaining taxable profit:
Tax payable on profit: (@ 12.5%)
Tax saved in year one
€2,500[1/8 of total]
€20,000[8/8 of total]
€97,500
€12,188
€313
€80,000
€10,000
€2,500
ACA Benefits
..and reduces energy costs!
More Cash,
Less Tax
SEAI’s role
Responsibility for maintaining list of eligible products through Triple E Register
•Develop energy efficiency technology criteria•Administer and check quarterly product submissions by equipment suppliers
Important:
ACA tax incentive is not claimed through SEAI
What ACA covers..
• 52 Separate Technologies
• 8000+ Eligible Products
Triple E / ACA Categories
• Lighting
• Motors & Drives
• Building Energy Management Systems (BEMS)
• Information and Communications Technology (ICT)
• Heating and Electricity Provision
• Process and Heating, Ventilation and Air-conditioning (HVAC) Control Systems
• Electric and Alternative Fuel Vehicles
• Refrigeration and Cooling
• Electro-mechanical devices
• Catering and Hospitality
Product submission process
1. Supplier checks that product meets criteria
2. Supplier submits basic product details through Triple E account for consideration
3. SEAI verifies submission is correct and requests supporting documentation
4. Supplier provides supporting documentation through Triple E account
5. SEAI checks documentation
6. Ministerial order required to add ACA product to list
Claiming the ACA
1. Check item is on the Triple E Products Register and eligible for ACA
2. Procure as normal.
3. Ask supplier to record product details as per list on invoice.
4. Claim allowance on annual tax return form.
Claiming the ACA
Claim Value = Cost associated with provision of eligible products
NB: Provision could be interpreted to include acquisition, transport and installation costs if they are directly related to the provision of the qualifying equipment
Minimum expenditure for Lighting is €3,000
Claiming the ACA
Claiming the ACA when no profit is made
As is the case for standard capital allowances, the ACA allowance can be carried over to the following year if no profit is made in the year of product purchase.
