Further Financial Savings - MIC & PSO Levy Reduction
The Maximum Import Capacity (MIC) is the maximum rate of energy (or power – measured in kVA) to be borne by your connection as agreed between ESB Networks and you, the customer. As a result of the drastic decrease in energy usage following an upgraded lighting installation, you may find your MIC to be excessive for your business, and discover you’re paying for more energy than you require. If this is the case, contacting your energy supplier and reducing your MIC can result in further financial savings to your business.
Public Service Obligation Levy (PSO)
The Public Service Obligation (PSO) Levy is a charge relating to the costs of purchasing peat generated electricity and the output of renewable, sustainable or alternative forms of energy purchased under various Government schemes. All electricity suppliers are obliged by government to apply these charges in the interests of security of supply and environmental protection. As with the MIC charge explained above, the PSO Levy paid by your business may also be reduced significantly after a upgraded lighting installation. Once the lighting design has been agreed upon, our team will then look at how much energy your new solution is using in total, and use this information to calculate any PSO Levy savings that would be applicable.
Financial Support & Grants
As a result of the European Commission’s aim to reduce emissions and increase energy efficiency across Europe by the year 2020, your business may be eligible for financial support or grants in order to help reduce the costs associated with implementing energy efficient solutions. Please find details of some of the financial options below:
Accelerated Capital Allowance (ACA)
The Accelerated Capital Allowance (ACA) is a tax incentive which aims to encourage companies to invest in energy saving technology. The ACA allows companies to write off 100% of the purchase value of qualifying energy efficient equipment against their profit in the year of purchase.
Energia – Energy Efficiency Funding Scheme
Energia are currently offering to fund up to 30% of the total cost of implementing energy efficient equipment into your business. This funding is available to both existing customers and non-Energia customers and our team will complete the entire application process as part of our service.