From May 1st 2023, VAT has been reduced on the supply and installation of Solar PV on homes and public buildings. This measure is very welcome and will reduce the cost of Solar installations by around €1,000 on a typical home. We are expecting demand to pick up in the coming weeks as this and other incentives become more apparent to home-owners.
In 2022, The ISEA & UCC MaREI Institute study on the potential of Solar in Ireland found that over 1 million homes have the potential for 10 Solar Panels meeting 25% of residential demand for electricity and reducing 135,000 tonnes of CO2.
From May 1st , an average Solar PV installation is around €1,000 cheaper with the abolition of VAT.
We believe there has never been a better time to invest in Solar on your home.
- Zero VAT: With the abolition of VAT from May 1st, the typical cost of a Solar installation will reduce by €1,000 and improve payback period from 7 to 6.2 years.
- Generous SEAI Grants: All homes built pre 2021 are now eligible for generous SEAI grants of up €2,400. Grants are reviewed annually by SEAI and can change each year.
- Ability to sell unused electricity back to your Supplier: Since 2022, Electricity suppliers, like Pinergy, can purchase back any excess electricity not being used by your solar panels. Currently Pinergy pay 25c per kWh which is amongst the best in the marketplace.
- Peak generation month in May and June: To make the most of this summer, we are recommending that customers install as soon as possible to make sure they can take advantage of the peak generation across May and June when daylight hours & solar energy generation are at their peak.
Get generating this summer!
Our Summer 2023 offer is a €250 cashback offer to residential customers who have their Pinergy SolarElectric Solar PV project fully installed by end of July 2023.
For more details please talk to one of our advisors.