Solar energy benefits

Financial Incentives for Agricultural Solar PV Systems

Unlock Savings with Solar Grants and Tax Benefits

Installing a solar PV system on your farm can be a cost-effective way to reduce energy expenses and promote sustainability. There are several financial incentives available to help farmers lower the upfront costs of solar installations, making the transition to renewable energy more accessible and affordable.

1. Targeted Agricultural Modernisation Scheme (TAMS 3)

The TAMS 3 Solar Capital Investment Scheme is a government initiative that provides substantial grants for solar PV installations on farms. Under this scheme, farmers can receive a grant covering up to 60% of the total cost of their solar PV system, making solar energy a viable option for many agricultural businesses.

Eligibility Requirements for TAMS 3:

The minimum investment in a solar PV system to qualify for this grant is €2,000, while the maximum eligible investment is €90,000.
The grant covers up to 60% of the system cost for self-consumption only; larger systems will only receive grants based on the necessary size for farm use.
An On-Farm Solar PV Survey must be completed by an accredited installer to demonstrate that the generated electricity will be fully consumed on the farm.
Batteries are also eligible for grant aid, covering up to 50% of the capacity of the installed panels.

2. Accelerated Capital Allowance (ACA)

The Accelerated Capital Allowance (ACA) scheme allows farmers to write off the entire cost of their solar PV installation against their tax bill in the first year. This tax incentive applies to the net cost of the solar PV system after the TAMS grant has been applied, providing a further financial benefit for farms investing in renewable energy.

How ACA Works:

The ACA offers full tax relief on the capital investment for solar PV in the first year.
The eligible amount for ACA is the total cost of the solar PV system minus any grant received through the TAMS scheme.
Depending on the farm's profits and tax rate, this incentive can significantly reduce the payback period for the solar investment.

Application Process

How to Apply for Solar Grants and Financial Incentives

Steps to Apply for TAMS 3 Solar Grant

Applying for the TAMS 3 Solar Capital Investment Scheme is a straightforward process. Here’s what you need to do:

1. Prepare Your Application

Start by completing an On-Farm Solar PV Survey with an approved installer to determine your farm's energy needs and the appropriate solar PV system size.

2. Submit Your Application Online

All applications must be submitted online through the Department of Agriculture’s website: agfood.ie. Manual applications are not accepted, so ensure you are registered for OLS with the department before applying.

3. Provide Supporting Documentation

You’ll need to submit several documents to support your application, including:

Evidence of land ownership or leasehold title
Farm Safety Code of Practice completion
Quality certificates for the solar PV equipment
Installation, testing, and commissioning certificates
Completed ESB Networks NC6/7 form

4. Claim Your Payment

Once your application is approved and the solar PV system is installed, submit a claim for payment along with the required documentation. The ranking of applications takes place on a tranche basis, so ensure all documents are accurate and complete to avoid delays.

Solar Savings

Estimated Payback Period and Savings

Understanding Your Return on Investment

The payback period for a solar PV system on a farm can be remarkably short, thanks to grants and financial incentives. Here’s a quick example for a 30kWp system:

Estimated Equipment Cost: €46,000
TAMS Grant (60%): -€27,600
Net Cost After TAMS: €18,400

Estimated Savings Based on Energy Prices:

Energy Price

Payback Period without TAMS

Payback Period with TAMS

25 cents/kWh

7 years

2.8 years

29 cents/kWh

6.3 years

2.5 years

35 cents/kWh

5.5 years

2.2 years

With the ACA scheme reducing taxable income further, the payback period can be even shorter, making solar an attractive investment for farms.

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6 Sept 2024

"SolarPath answered all my questions and advice during the process based on my requirements to get a customized solution which allows me working from home reducing my bills and provides fault tolerance in case of power outage."

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11 June 2024

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13 June 2024

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14 August 2024

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23 Apr 2024

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