As of February 2024, the UK Government will implement 0% VAT on battery storage. This is one part of an effort to break down the financial barriers and boost accessibility in the renewable energy sector.
Battery systems allow you to store energy and use it as and when needed, and is now regarded as an essential part of any renewable energy system, playing a pivotal role in enhancing the solar panel system by storing excess energy generated during sunny periods and allowing the user to harness the stored energy during periods of limited sunlight or at night.
Currently VAT is sitting at 20% for battery storage as a standalone product or 0% if purchased with at least two panels. This drastic drop to 0% VAT can be seen as a great step forward in promoting solar and renewable energy in residential areas. Promoting homeowners to become a part of the shift towards cleaner and more efficient energy practices. Learn more about battery storage here.
So how could this help you?
If you invest in battery storage it won’t take long to see what you’ve saved grow! By capturing and storing excess energy produced during peak sunlight hours these batteries enable you to use stored power during low solar activity or when electricity rates are higher. Reducing your reliance on the National Grid, especially during peak rates.
The extended lifespan and improved efficiency of the modern storage batteries will contribute to long term savings, making them a smart and sustainable compliment to the solar installation. You can download our free guide to renewables or get in touch for a quote here!
We are proud to work closely with industry leading brands such as GivEnergy and Tesla, supplying and installing innovative and exciting products with leading technologies in the world of renewables, ensuring high quality products and installation.
With the Government taking strides to break down financial barriers on renewable energy and removing the VAT on items such as battery storage, they are continuing to take steps in making renewable energy more accessible. It demonstrates the UK’s dedication to combat the climate crisis and accelerate to the goal of national net zero by 2050. Reducing our reliance on the grid and embracing greener and more efficient energy solutions is a great step to take when it comes to increasing the collective impact we have on our environment and the world around us.
There has never been a better time to make the switch to renewable energy and become part of the continued growth towards a brighter and cleaner future.