Accelerated capital allowances for energy-efficient equipment
Steven Gardiner outlines how accelerated capital allowances for energy efficient equipment should be front of mind for companies looking to improve sustainability.
In a positive sign that improvements in the economy are directly impacting on activity in Irish companies, many are now increasing capital spending on equipment. It’s critical that this capital expenditure is spent prudently, and delivers real value to the business. A cost-effective way to do this, which is not being availed of fully by many Irish companies, is to invest in energy efficient equipment, and so benefit from the accelerated capital allowances that are potentially available. Not only will this help increase the sustainability of the business, which is becoming increasingly important to customers, stakeholders and employees alike, but will also result in cost efficiencies. At a time when many companies are striving to reduce both their consumption costs and their carbon footprint, this is an area that has particular relevance to anyone with responsibility for procuring equipment.
This article first appeared in the July 2015 edition of Business & Finance magazine.