New grant scheme which will help businesses install solar panels

New grant scheme which will help businesses install solar panels

Great news for businesses with the unveiling of a new grant scheme for businesses of all sizes.

There is good news for business today with the announcement of a new grant scheme which will help businesses install solar panels with grants ranging from €2,700 to €162,600. The Green Party secured cabinet approval today (July 4th) for amendments to the existing Non-Domestic Microgeneration Scheme, operated by the Sustainable Energy Authority of Ireland (SEAI), to extend supports to a wider range of businesses and non-domestic applicants. The scheme will support businesses which want to install solar panels and smart energy infrastructure for a wide range of commercial buildings. These grants will help businesses lower their energy costs while also reducing fossil fuel consumption.

The scheme, which was announced today by Minister Eamon Ryan and Minister Simon Coveney was welcomed by Green Party TD for Waterford Marc Ó Cathasaigh who said it will “make it easier for businesses to make the switch to solar power and save money”.

Under the new scheme, businesses will now be eligible for grants covering 20-30% of the investment cost, resulting in a reduced payback period of as little as 5 years. These improvements are expected to stimulate business investment in renewable energy generation, reinforcing Ireland’s commitment to a sustainable and greener future.

Welcoming the announcement, Deputy Ó Cathasaigh said:

“Solar power makes good business sense as it is essentially free energy once the payback period has passed. Having the funds to meet the upfront costs has been a challenge for businesses of all sizes so today’s announcement is very welcome as it will assist with those initial costs. It will also reduce the payback time to as little as 5 years which means that once the installation has been paid for, the energy is generated at no cost to the business.”

Deputy Ó Cathasaigh continued:

We talk about ‘The Rooftop Revolution’ a lot in The Green Party but we are seeing the huge increase in people switching to solar in every community so that revolution is unfolding in front of our eyes. The demand for homegrown, renewable energy has never been so high, given the cost of living crisis and the energy crisis. We need to be more independent when it comes to our energy supply and harnessing our natural resources is a key part of that independence. Solar energy works well in our Irish climate – especially here in the Sunny South East. It also saves money, has a short payback time and it provides secure energy for homes and businesses”.

“Today’s announcement is a huge step forward for business and for our aims to decarbonise our electricity generation in Ireland. I encourage any businesses with questions to please reach out to my office and my team will be more than happy to help”

The scheme will cater to various businesses, including small local shops, large manufacturing facilities, public buildings, sports clubs, and community organizations. Notably, an installation size of 1,000 kWp equates to approximately 2,500 solar PV panels, making it suitable for installation on large factory or warehouse rooftops.

These grants are part of a wide range of supports the Green Party has introduced in Government to make solar energy a realistic option for households and businesses across the country. As well as increases in grants for homeowners who wish to retrofit their homes, free home energy upgrades to homeowners in receipt of certain social welfare payments, the party has abolished the VAT on the supply and installation of solar panels for homes and public buildings, is providing free Solar PV panels to schools and has made it possible to install solar panels on houses, farm buildings, schools and community centres without planning permission.

Minister Eamon Ryan, Minister for the Environment, Climate and Communications said:

“This move by Government shows Ireland’s continued commitment to supporting all of our citizens, businesses and community organisations – to be part of our journey to a cleaner, cheaper and renewable energy future. It also shows strong cross-Government commitment to developing innovative solutions that can not only provide support to businesses to manage their energy costs but also empower those businesses to invest in an enduring solution which also reduces their carbon footprint and supports the local electricity grid.”

Under the Climate Action Plan, Ireland has a binding target of slashing emissions by 51% by 2030 and reaching net zero by 2050, and increasing the use of renewable energy will be a crucial tool to help us reach this target. Not only is easier than ever for households and businesses to reduce their energy bills, but they can also sell electricity from their solar panels back to the energy grid.