Eamon Ryan (Dublin Bay South, Green Party)
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The Accelerated Capital Allowance (ACA) for Energy Efficient Equipment (EEE) scheme is aimed at encouraging businesses to purchase equipment that is highly energy efficient by permitting the full cost of expenditure on eligible equipment from taxable profits to be deducted in the year of purchase. This differs from the standard treatment applicable to capital assets, whereby wear and tear can be taken into account as a deduction for tax purposes, at a rate of 12.5% annually over eight years.

By supporting improvements in energy efficiency of Irish business, the scheme can contribute towards meeting energy reduction and emissions objectives. The ACA currently covers 10 different equipment categories of equipment and 52 associated technologies. The Scheme is open to companies, sole traders, and farmers that operate and pay corporation tax in Ireland. Under Budget 2024, the accelerated capital allowances scheme for Energy Efficient Equipment is being extended for a further two years until 31 December 2025. Businesses claim the ACA through their company's return of income form to Revenue (CT1). As the ACA scheme is operated by Revenue under the Taxes Acts and is based on the company's returns to Revenue, any data on the extent to which specific measures were availed of (such as the number of electric vehicles supported) are a matter for Revenue.