Hyper-depreciation: completion notifications are now being issued

The decisive phase of the projects under the new Transition 5.0 plan is now underway. From 12 noon on Thursday 15 October, businesses may submit notifications of the completion of their investments via the online platform managed by the Energy Services Operator (GSE).

This is laid down in a ministerial decree issued by the Ministry of Enterprise and Made in Italy (Mimit), as provided for in the previous interministerial decree of 7 May, signed jointly with the Ministry of the Economy.

Businesses that have already received a positive response to their confirmation notice (relating to the payment of a deposit of at least 20 per cent to suppliers) may now submit the documentation relating to the completion of the investments, specifying the details of the invoices for eligible expenditure and certifying that they are in possession of the required sworn technical report and accounting certification.
The Mimit points out that the completion notification must not relate to investments in different assets, nor to amounts exceeding those indicated in the confirmation notification. The template for the completion notification, together with the operational instructions, is available on the GSE website. Meanwhile, an operational circular – previously announced by Minister Adolfo Urso – is expected, which should simplify certain technical aspects that business associations have highlighted as problematic in recent months.

Despite these challenges, following an initial period of difficulties, the new Transition 5.0 scheme, based on hyper-depreciation, has begun to gain momentum. The latest figures show that projects totalling around €7 billion have been submitted over a four-month period. The platform for submitting preliminary notifications opened on 12 June. Subsequently, on 21 July, the platform for submitting investment confirmation notices was opened, requiring the date and amount of the payment relating to the final instalment of the advance payment to reach 20 per cent of the acquisition cost of each asset.

The 7 billion in investment planned so far is a figure that may even exceed expectations, but it is influenced by the fact that the scheme only became fully operational halfway through the year, despite the fact that tax relief is available for investments made from 1 January 2026 (and up to 30 September 2028). Consequently, a backlog of projects had built up, which were then submitted from 12 June onwards. In any case, discussions are continuing between the Ministry of the Economy and the Ministry of Enterprise and ‘Made in Italy’ regarding a possible one-year extension of the deadline for completing the investments, thereby extending it to at least 30 September 2029. This measure could be included in the Budget Bill, subject to assessments to determine whether to simultaneously increase the funding allocated to the plan under last year’s budget – amounting to 9.8 billion euros, spread across the public finances until 2035.