Solar Panels – SEAI grants and the HRI
Solar Panels - Grants and the HRI
There are two great incentives available now to upgrade the energy efficiency of your home. Installing solar panels for heating water is included in these incentives. The two incentives are the Better Energy Homes grant from the SEAI and the Home Renovation Incentive (HRI).
The SEAI Grant for Solar Panels
The SEAI has long supported the installation of solar panels for heating water, they were among the first renewables to be grant aided nearly 10 years ago and they enjoy one of the most generous grants available. This is because solar panels are incredibly good at reducing carbon emissions from home heating, something Ireland is desperately failing to do. There is more information about this grant on our grant information page here
The Home Renovation Incentive (HRI)
The Home Renovation Incentive (HRI) was introduced to encourage people to spend money on home upgrades and renovations in an attempt to kick start the construction industry again. Happily it is a great help to anyone looking to do major refurbishments on their home and it also includes plumbing work and the installation of energy upgrades such as solar panels.
The HRI is essentially a tax credit which gives you back the VAT you pay for on any of the eligible works that are included on the scheme. How it works is as follows:
- You get renovation works on your home.
- You need to spend a minimum of €5000 inc VAT. A maximum spend of €30,000 inc VAT is eligible for the tax credit, anything over that is not counted.
- You give your Local Property Tax ID number to the contractor.
- The contractor needs to be tax compliant and hold a tax clearance certificate.
- The contractor registers your details and the details of the job on the HRI section of the revenue website.
- You will be eligible for a tax credit equivalent to the VAT amount on the Invoice for the works done.
- The tax credit is spread out over two years.
Which one is best for solar panels?
The grant from SEAI is worth €1200 so it is typically a good bit more than what is available from the HRI. If you qualify for the SEAI grant it is probably best to go this route than the HRI scheme.CLICK HERE FOR SOLAR PANELS PRICES