According to a recent census by the Office for National Statistics the main concern currently facing UK adults is the rising cost of living (79%), closely followed by climate change (74%).
It is little wonder then, that many people are looking to renewable energy as a way of reducing their carbon footprint and safeguarding against precarious international energy prices.
With the introduction of zero rate VAT for the installation of specific Energy Saving Materials in residential accommodation, investing in renewables has never been so attractive!
Rishi Sunak announced the proposal to cut VAT from 5% to 0% for energy saving systems, including solar panel supply and installation, heat pumps, and cavity wall and loft insulation, within the 2022 Spring Statement.
It is hoped that improving energy efficiency will be the fastest method of cutting household energy bills during the global energy crisis, and be an incentive in the take up of energy saving materials in line with the governments environmental target; for the UK to achieve net zero by 2050.
Installing a solar panel battery as part of your solar panel set up has many benefits.
If you have high electricity usage during the evening or at night, a battery is a good investment as it can store excess solar energy generated during the day and use it to power your home when the sun is not shining.
This can reduce your electricity bills and your carbon footprint, making the most of your panels.
If you have a battery installed at the same time as your solar panels you will currently qualify for 0% rate VAT on the whole system.
However, solar batteries themselves are not included on the list of Energy Saving Materials as a standalone product, therefore, if you have the battery installed later you would be required to pay the VAT.
You do not need to live in a sunny country to generate solar energy. Whilst clouds block some of the sunlight that the panels need to generate electricity, they are able to use diffused light, which is light that has been scattered in the atmosphere.
So, while solar panels may not generate as much electricity on cloudy days as they do on sunny days, they can still be an effective source of renewable energy even on days when the sky is not completely clear.
You do, however, require daylight.
From 21st December mornings and evenings in the UK started to get gradually lighter, by 2 minutes and 7 seconds each day following the Winter Solstice.
Daylight Saving Time this year will begin on Sunday, 26th March, when the clocks “spring forward”, extending the hours of daylight in the evenings and maximising the amount of energy you can harvest.
The sooner your solar panels are installed, the sooner you will start saving money!
If you have decided to help save money and the planet by investing in clean, renewable, solar energy, you’ve picked a perfect time! With rising energy prices, 0% VAT on solar panels in place until 31st March 2027, and spring just around the corner, why not call AW Electrics to discuss the right solar PV system for you, and start your solar journey with us today.