Under the Enhanced Capital Allowance scheme (ECA), businesses that purchase energy-saving plant or machinery can benefit from single-year capital allowances. Which means you can claim 100% tax relief on these purchases in the first year. However, time is running out as the scheme is due to end in April 2020.
The Enhanced Capital Allowance scheme for energy-saving technologies ends April 2020
Setting aside the social conscious aspect of reducing industrial energy consumption, the cost savings of initiating energy saving projects are not lost on most businesses, this added incentive from the ECA is a very enticing icing on the cake.
Not all energy efficient plant or machinery are approved for the ECA, view the governments Energy Technology List to check your proposed energy saving investment is included, ABB Variable Speed Drives (inverters) and motors are included.
At IDS we have worked with clients to make the most of this scheme, adding huge benefits to the already attractive 9-month average payback on inverter technology investment. With the scheme due to end in April 2020 it is imperative you act now.
Types of applications
Variable speed drives can be used to save energy on a variety of motor-controlled applications. They are especially effective on fans, chiller plants and pumps; they can also achieve decent results on crushers, extruders, conveyors, air compressors, screws, grinders, mixers etc.
If you are keen to take advantage of the ECA before it disappears, we can help. Call us on 0115 944 1036 or email [email protected] we will arrange a mutually convenient time to review your plant and applications. We will conduct an Energy Efficiency Motor Audit which will allow us to predict the energy and cost savings. After producing this report, we can advise which applications warrant investment. There is still time – we can do this together!