Solar Capital Investment Scheme
TAMS 3 Solar Capital Investment Scheme!
TAMS 3 Solar Capital Investment Scheme is now open for applications. Applications can be made through your agfood account. The Targeted Agriculture Modernisation Schemes (TAMS 3) provide grants to farmers to build and/or improve a specified range of farm buildings and equipment on their holding. The Solar Capital Investment Scheme will encourage the purchase of solar investments thereby reducing dependence on fossil energy.
- Cost savings: By generating their own electricity, farmers can reduce their reliance on the grid and potentially save on their energy bills.
- Income generation: Farms with excess solar energy production can sell the electricity back to the grid, generating additional income.
- Environmental sustainability: Solar PV systems produce clean energy, which can help reduce a farm's carbon footprint and promote environmental sustainability.
- Resilience: Solar PV systems can provide a reliable source of electricity, particularly in areas prone to power outages or with limited grid access.
How much is it?
The solar scheme will be ring fenced with its own investment ceiling of €90,000 per Holding and will be grant aided at the enhanced rate of 60%. TAMS will be in place for five years with a budget of €370m. In addition to the higher grant rates, the Department of Agriculture, Food and the Marine have also increased the size of the available investments from 12kW to 62kW.
- Payback period as low as 4-7 years.
- Increased Farm value: Installing solar PV systems can increase the value of farm holding, particularly if the system is owned outright rather than leased.
- Accelerated capital allowances, SEAI & TAMS Grants available.
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