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Over the past 6 months, we have looked at the environmental and political implications on renewables, and the changing consumer attitude towards it. There has been an evident shift in this time, with more funding/initiatives being introduced, and overall a positive shift in how consumers view the technologies. In today’s blog, we carry on this theme and look at the exemption of VAT on residential BESS (Battery Energy Storage Systems) and its effects, as well as some other innovations that make it easier than ever to get involved in renewables.
The zero VAT rate is likely to act as a catalyst for an increase in installations, and has also been applied to other sectors, such as solar pv and heat pumps. Installers and consumers of these technologies can enjoy the VAT zero rate up until March 2027, which is in a bid to reduce household energy bills (Lynas, 2024.) By now, we all know the benefit of batteries in relation to solar pv, in that having a battery can make the system twice as efficient, and therefore leads to even more savings. The combination of the zero VAT rate, consumer familiarity of the effectiveness of batteries, as well as other advancements such as the ability to apply for the national grid online in minutes, makes it the perfect time to get involved in solar.
Whether you are on the electrical side, or plumbing and heating side, there really is no better time to get involved in renewable energy, and at GRE we have one of the biggest varieties of renewable courses.
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Lynas, M. (2024, February 1). UK VAT relief on residential batteries comes into effect. PV Magazine. Retrieved February 7, 2024, from https://www.pv-magazine.com/2024/02/01/uk-vat-relief-on-residential-batteries-comes-into-effect/