TLGEC Renewable Energy: Solar PV, Battery Storage & EV Charging in Kent, Sussex, Surrey, London & Surrounding Areas
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As of 1st February 2024, homeowners in the UK will pay 0% VAT on residential solar panels, battery storage including the Tesla Powerwall, and other renewable energy solutions in a step on the way to creating a more sustainable UK with less reliance on fossil fuels.
In the Government’s Spring Statement from 2022, solar panels were amongst the energy-saving materials to receive VAT relief (from 5-20% down to 0%) but industry experts argued that this did not go far to encourage energy efficiency. Following a Call for Evidence, this VAT relief has broadened to include battery storage, water-source heat pumps, and diverters retrofitted to energy-saving measures (such as solar panels and wind turbines).
The installation of solar panels, battery storage, and other energy-efficient solutions will benefit from 0% VAT until March 2027, after which they will return to a reduced rate of 5% unless the policy is extended.
Benefits of residential solar PV
Solar PV has become more popular in recent years thanks to a shift towards a more sustainable approach to everyday living. But environmental impact and sustainability are just one of the enticing benefits that owners of residential solar PV enjoy. If you’re still on the fence about solar PV, here are just a few of the additional benefits:
Residential solar panels come with minimal maintenance. With solar PV technology progressing all the time, they are designed to last (up to 30 years!). Less maintenance means less extra costs and loss of energy for you.
Depending on your current energy costs and usage, you can save money with residential solar panels. Producing your own energy using solar panels can help you save roughly £400 a month on your energy bills!
Reduce your carbon footprint. Solar PV can help reduce your dependency on fossil fuels like coal and natural gas which pump harmful gases into the atmosphere. This is an important step on the way to helping the UK reach its carbon goal of reaching net zero emissions by 2050. Solar panels are great for you, and a better alternative for the planet!
Make your money back. Not only do solar panels help you save on your electricity bills, but the excess energy you don’t use can be sold back to the National Grid via the Smart Export Guarantee.
Increase your property value with residential solar panels. Recent research suggests that the insulation of solar panels can increase the value of your home by over £32,000.
Benefits of at-home residential battery storage
Now you know the benefits of solar panels, you might be wondering about the benefits of Tesla Powerwall battery storage. These include, but are not limited to:
A 10-year guarantee that provides you with long-term assurance.
Protection against power cuts with around-the-clock access to your own backup energy source.
Saving up to 75% on your energy bills by selling back energy to the National Grid during peak times.
Flexible installation either indoors or outdoors depending on your needs.
Using and storing clean, sustainable energy via solar panels helps you and the planet at the same time.
To find out more about how the VAT relief on solar panels will affect you, or to discuss installing your own energy-efficient solutions, get in touch with our team.
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