The opening of the new Targeted Agricultural Modernisation Scheme (TAMS) for solar project investments this week will “meet the appetite in the farming community for farmer-developed renewable projects”.
That’s according to Ifac, whose Irish Farm Report 2023, published last week, found a strong demand among farmers to get involved in renewable energy production.
Reacting to confirmation that solar investments will be the first available aspect of TAMS Tranche 1 from tomorrow, Ifac’s head of farm support Philip O’Connor said: “This is very welcome news to farmers.
“Tranche 1 of the scheme will be music to the ears of many clients and farmers all across the country who are committed to farming sustainably and eager to take climate action.
“We know this because last week our fifth annual farm report, containing the views of 1,160 Irish farmers, revealed that both spiraling input costs and action to meet Ireland’s climate targets are very much front of mind,” O’Connor added.
According to that report, 52% of Irish farmers said the biggest barrier to adopting renewable projects is the level of financial investment required, coupled with the low returns from investment.
As well as that, 54% of respondents to Ifac’s report said they were concerned about their electricity and gas costs at home.
“The announcement about this targeted scheme for solar will help to meet the appetite in the farming community for farmer-developed renewable projects and help farmers to proactively tackle rising energy costs and generate their own power.
“It will have a positive long-term impact on the sector overall, rural Ireland, and our environment,” O’Connor commented.
As confirmed by the Department of Agriculture, Food and the Marine, the solar scheme will be ringfenced with its own investment ceiling of €90,000 and will be grant aided at the enhanced rate of 60%, in order to encourage the purchase of solar investments.
Furthermore, the size of the solar project that can be covered under TAMS has been increased from 12kW to 60kW.
Under the new TAMS, the ceiling for solar investment will be reset to €90,000 per holding for the duration of the scheme. Farmers who benefitted under the previous TAMS can reapply in full under the new scheme.
Commenting on the solar energy provisions, Minister for Agriculture, Food and the Marine Charlie McConalogue said: “The scheme will enable every farmer to generate their own power for their dwelling and holding, and will help to achieve a more sustainable rural economy, assisting farmers in reducing energy costs on their holdings.”