Karen May

Vehicle to Grid (V2G): Transforming electric vehicles into mobile energy storage units⚡️🚗 Great article below on the next wave of EVs with bidirectional charging - enabling you to use your car to power your home or to feed energy back into the electricity grid. With increasing demand on the Irish grid, EVs with V2G technology could play a critical role by charging during off-peak hours and returning electricity to the system during times of peak demand. Collaboration between businesses, policymakers, and government bodies will be key to enabling this new technology to help provide flexibility to our electricity system. Link to a useful V2G overview in the comments below 👇 Shane Mac Sweeney Julia Ann Corkery Ferga Kane Conor Gunn Luke Hardcastle Fergal McDonnell Aisling Golden Niall Brennan Asmita Anand Anna Farrell Shanna Collins Andrew McCabe #v2g #electricvehicles #electricvehiclecharginginfrastructure #congestionmanagement

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Delighted to have been asked to speak at The Future of Biogas Summit this Thursday in Barcelona. I’ll be sharing insights on Ireland’s National Biomethane Strategy—how it was developed, the ambitious target of achieving 5.7 TWh of indigenous production by 2030 without operational support, and key lessons for other countries starting their biomethane journey. This includes tackling grid, feedstock assessments, and collaboration with the agriculture sector. #biomethane #greengas #decarbonisation

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Investors, take note: Ireland's mining sector is booming with untapped opportunities in critical minerals like lithium and copper. Find out why experts say this is a must-watch market

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Purchase Power Agreements are becoming more and more popular in Ireland as companies aim to decarbonise their electricity supply. Join our webinar on Purchase Power Agreements (PPAs) on 23 May at 11 am. We'll discuss the challenges and considerations in PPA accounting, the complexities of current standards, and the impact of proposed IFRS 9 amendments. Ideal for energy companies and corporations with PPAs. Register here https://lnkd.in/e-cHHVf8

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In episode two of our Energy Exchange podcast, Colm O Neill is joined by Geraldine Heavey, Executive Director Enterprise Services, ESB. They explore ESB's strategy for a low-carbon energy future, ESB’s goals for achieving net zero by 2030, and the key actions they're taking. They also discuss the role of the Enterprise Services team in ESB, and initiatives to encourage women in the energy industry. Listen to the podcast in full here: https://lnkd.in/eWsWXVFN

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⚠ ATTENTION BUSINESS OWNERS ⚠ The publication of the Finance Bill 2024 will bring a significant shift in the PRSA landscape in Ireland, in particular for company owners, in 2025. As things stand, there is no limit to how much a company owner can pay into a PRSA. As of 1st January 2025, it will be capped at 100% of their salary. In practical terms, you could have a company owner taking a salary of €40k from their business, but who is putting €100k into their PRSA in 2024. In 2025 and beyond, they will be capped at €40k. Any contributions above the 100% cap will be subject to BIK. This is a big shift, and I'd highly recommend that any company owner sitting on a healthy balance sheet should take financial advice very soon with a view to maximising the current PRSA position before it changes. DNG Financial Services James Kane MSc, CFP®Tom Flanagan BBS QFA CFP®Rebecca Harlow QFA Suzanne Kennedy QFA APA #financebill2024 #prsa #pension #retirementplanning #businessowners #companydirectors #dng #dngfs #dngfinancialservices

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📊 How Your Income Tax is Calculated in Ireland 🇮🇪 Understanding how income tax works is key to managing your finances effectively. Here’s a quick breakdown of how it’s calculated: 1️⃣ Personal Tax Credits 2️⃣ Standard Rate Tax Band 3️⃣ USC 4️⃣ PRSI Contact us today: ☎️ +353 42 933 6664 📧 [email protected]

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Interesting spot of significant direction from Department of Finance Ireland to the National Treasury Management Agency ("NAMA") regarding preparatory work required in relation to the Conclusion of Irish Bank Resolution Corporation Special Liquidation and Dissolution of the National Asset Management Agency "Re: Memorandum to Government on 2nd July 2024 relating to the General Scheme of the above mentioned Bill. Following Government's approval of the proposal to draft the Bill along the lines of the General Scheme, my Department is now working with the Attorney General's Office and the Office of Parliamentary Council to draft the Bill. The Bill provides inter alia for the residual assets and liabilities associated with the conclusion of the Special Liquidation of the Irish Bank Resolution Corporate (In Special Liquidation) ("IBRC") to the National Asset Management Agency ("NAMA"), at end 2024 / early 2025. The Bill is a priority piece of legislation for the Government. It is therefore important that appropriate support is provided by NAMA on an interim basis to undertake all necessary preparatory work required to facilitate the proposed transfer of residual activity from IBRC to NAMA pending enactment of the Bill. This support will ensure that operational activity can commence following the passage of the Bill. Therefore, and in accordance with Section 13(l)(d) of the Irish Bank Resolution Corporation Act 2013, I hereby direct NAMA to undertake all necessary preparatory work in respect of the transfer of residual activity of IBRC to it. This direction is given pending the enactment of the Bill, currently being drafted, which, when enacted, will facilitate such legal transfer. I direct NAMA to incur such costs as NAMA considers necessary or expedient in connection with this direction, and an estimate of these costs should be incorporated in the NAMA budget process".

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Today, we announced our interim financial results for the first half of 2024. Some of the key highlights include:   📊 Profit of €50M: Retail margins remain below pre-energy crisis levels. Our assets and trading optimisation performance demonstrate the benefit of Bord Gáis Energy being an integrated energy company. 🌿 Investing in Ireland’s Green Transition: Committing €300M to hydrogen-enabled gas peaking plants, allowing for increasing levels of renewable generation and supporting security of supply from mid-2025. 🤝 New Strategic Partnerships: Launching a joint venture with Corio Generation, a Macquarie Asset Management portfolio company, to partner on offshore wind opportunities in Ireland. 👨‍👧‍👧Supporting our Customers: Passing on price reductions from easing commodity prices to customers. Developing our solar partnership with the Irish Farmer’s Association, continuing to help farmers cut costs and generate their own electricity.   Read the release in full here: https://lnkd.in/eyG-rm5v

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In yesterday’s Sunday Business Post, Colm Power, CFA, Director of Financial Planning at Davy, discusses how the series of changes to pension structures passed in the 2024 Finance Act will create new challenges for business owners. Master trusts are emerging as an important alternative as they allow for irregular, larger contributions, accommodating the variable cashflows that business owners often experience. To find out more about how Davy can work with you to develop a plan aligned with your retirement ambition, visit https://lnkd.in/euxWjGxF #MasterTrust #Pensions #RetirementPlanning #FinanceAct2024

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Ireland urgently needs to make meaningful progress in developing our offshore wind capability. Here’s how we can learn from the Scottish example: The opportunity is huge and involves: - becoming a net exporter for electricity - producing green hydrogen for industry, heat and transport - continuing to attract new industry here. Discover how we can maximise this opportunity in PwC Ireland’s latest insight.

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SMP urges business owners to act now as unlimited pension funding comes under threat. The Irish Times reported on 19th May, 2024 that Revenue has expressed concerns to The Department of Finance regarding new pension rules that came into effect in January 2023 allowing unlimited funding of PRSA pension contracts. When it comes to extracting cash from your business, contributing to a pension is extremely efficient. The current unlimited funding regime for PRSA's provides a unique, and possibly time limited, opportunity to do this at scale. Key benefits * Companies can contribute an unlimited amount to a Company Director's PRSA Pensions allowing for money to be transfered from the Company's ownership to the Director without tax being paid. * On retirement, up to 25% of pension funds can be taken tax free. * Any income or growth generated within the pension are tax free. This can be maintained up to age 75. * Funds can be accessed from age 60 ordinarily or age 50 in certain circumstance. * The company can contribute to both an occupational pension and a PRSA for an employee so this scheme can be set up along side existing pension arrangements. Pensions are extremely efficient long term personal tax planning vehicles. Where larger sums are concerned they should be considered as much as a tax planning tool as one to provide retirement income. It is likely that if any change is made to the current regime it will be introduced in Budget '25. We are urging clients to consider their options now in order to lock in the advantages available under the current regime. Please contact me at [email protected] or direct dial 01 5840127 to discuss.

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KPMG Ireland was engaged by the Irish Solar Energy Association (ISEA) to assess the economic impacts of the solar energy industry in Ireland. ☀️ The deployment of solar capacity in recently years is driven not only by Ireland's Climate Action Plan target of 8 GW of capacity by 2030, but also a result of the significant and sustained reduction in the cost of solar panels, increased electricity costs and the benefits to customers of onsite generation. 💰 Our analysis finds that if national targets are met, the sector will contribute over €2.3 billion in additional Gross Value Added (GVA) to the Irish economy between 2025 and 2030, while supporting up to 7,130 jobs across the country. This represents a significant contribution to the Irish economy, alongside the environmental benefits. https://lnkd.in/eABrVhDM

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I am pleased to say GreenHearth has published the second section in our free, comprehensive guide to grants for commercial solar projects. This part of the guide focuses on Northern Ireland where the £20m Energy Efficiency Captial Grant was launched on the 8th May providing up to £150k towards eligible projects. The EECG is reimbursement grant and can cover up to 50% but unfortunately its rules do not allow the balance of the project to be funded with secured lending. Not taking full advantage of cheapest funding available in the private sector will reduce the overall impact of the grant funds. GreenHearth can help companies arrange unsecured funding which can be used with this grants or long dated hire purchase funding which can fund 100% of potential projects. https://lnkd.in/eJSjvJbU

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🇮🇪 Top Tips for Irish Startups and New Businesses! 🇮🇪 🔍 Know Your Market - Research your industry & identify your audience 💼 Choose the Right Structure - Sole trader or limited company? It impacts taxes & liability 🤝 Compliance and Registration - Keep up with tax filings and deadlines to avoid penalties 📊 Manage Cash Flow - Budget wisely & use cloud-based accounting for real-time tracking 💸 Explore Grants & Tax Relief - Check out LEO grants for financial help CIMA

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We are pleased to have supported VPI as Sole Structuring Bank for the the refinance of the 200MW Battery Energy Storage Systems at its Lumcloon and Shannonbridge sites in Ireland. The transaction further demonstrates our commitment to supporting the green energy transition and security of supply #BESS #EnergyStorage

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