There has never been a better time to invest in a solar panel installation for your home. With the rise in energy prices, switching to solar energy is the perfect solution to combating expensive electricity bills. To make energy more affordable for UK homeowners, the government has cut VAT on several energy saving products - including solar panels.
At Jewel Renewables, we supply and install high yield PV solar panels in Surrey and Hampshire. If you are considering ways to make your home more sustainable and environmentally friendly, 2024 is the best time to switch to solar energy.
VAT Free Solar Panels
In 2022, during the midst of the cost of living crisis and the instability of the global energy market, the UK government released their Spring statement. In this statement, many initiatives were introduced to help homeowners deal with rising energy bills and to improve the country’s effort to protect the planet. The UK government has pledged to reach net zero by 2050 and is encouraging homeowners to ‘go green’ to help make this a reality.
The April 2022 statement included the VAT reduction initiative for energy-saving products. Prior to 2022, investing in solar panel installations included a VAT rate of 20%. Eligible homeowners could get this reduced to 5%, but they had to meet specific criteria.
To receive 5% VAT rates before 2022, homeowners needed to be over 60 years of age or be receiving specific benefits. Following the Spring Statement two years ago, the majority of energy saving installations are now available with 0% VAT.
Save Money & Swap To Solar Energy Today
If you want to generate green energy for your home, enjoy cheaper energy bills and improve your carbon footprint, now is the time to take action. With the o% VAT cut now in place, solar panel installations are more affordable for all homeowners across the UK. This money-saving scheme will end in April 2027. Solar panels are expensive, but this is the best time to invest and create a more self-sufficient home.
Once the VAT rate cut ends, it will increase back to 5%. Solar panels and installations will still be more affordable in 2027 than they were before 2022, however, as all homeowners will be eligible for the 5% VAT. There will no longer be criteria to meet, and solar panel installations will not include the previous VAT rate of 20%.
While 20% VAT on solar panels may be a thing of the past, right now is the best time to invest. Alongside generating your own electricity and living a more eco-conscious lifestyle, you will also benefit from VAT free solar installations if you purchase panels in 2024. Why wait until the rates increase again? Invest in your home and the future health of the planet today.
VAT Free Energy-Saving Products
Solar panels are not the only energy-saving products to benefit from a reduction in VAT. With the government attempting to reach net zero by 2050, several ‘cleaner energy’ products have been made more affordable for homeowners.
To encourage homeowners to use less energy and to reduce the country’s growing carbon emissions, VAT has been reduced on the following:
- Controls for central heating and hot water systems
- Draught stripping
- Insulation
- Solar panels
- Ground source heat pumps
- Air source heat pumps
- Micro combined heat and power units
- Wood-fuelled boilers
- Wind turbines
- Water turbines
0% VAT Solar Installations
To receive the full VAT reductions, homeowners must purchase solar panels and an installation service from the same provider. When solar panels are supplied by one provider and installed by another, there will still be a 5% VAT charge added to the installation fee.
The best way to switch to solar energy is to work with a provider like Jewel Renewables. We create environmentally friendly homes in Berkshire, Surrey and Hampshire by offering high quality solar panel installation services. Our state-of-the-art PV solar panels generate high energy yields in all weather conditions and are durable enough to withstand poor British weather.
With Jewel solar panels installed, you will experience reduced energy bills by up to 47%. Homeowners also have the opportunity to generate an extra income stream by switching to solar power. If your solar panels produce more energy than you need, the surplus energy can be sold to the National Grid.
Go Green With Jewel Renewables
Jewel Renewables, part of the Jewel Home Group, we supply and install cutting-edge PV solar panels in Berkshire, Surrey and Hampshire. When you choose to upgrade your home with our solar panels in 2024, you will benefit from a VAT free installation.
Get in touch with the Jewel Renewables team to discuss your solar panel installation today. You can contact our experts by calling 01252 939 597 or filling out our online contact form. Alternatively, get an online quote for our solar panels if you are ready to start your VAT free solar panel installation!
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