A new Government incentive on Renewable Energy products!
After what seems like a lifetime of waiting, the UK Government have now removed VAT on Battery Storage installations. This eagerly anticipated introduction joins VAT exemption on Solar PV installations, which was put in place in April 2022.
From the 1st of February 2024, installation companies like Pure will be able to fit standalone Battery Storage systems and retro-fit Battery solutions to existing Solar PV customers, at 0% VAT. This is also beneficial for a large portion of our customers who look to increase the total storage capacity they have installed, at a later date. With the rise in Electric Vehicle sales and Air-source Heat Pumps taking over from Gas central heating, storage capacity at existing installations can now be increased, in line with increased electricity consumption at the property.
Making renewable energy more affordable.
Eliminating VAT across Solar and Battery projects makes renewable energy generation and storage more affordable for homeowners. At a time of a cost of living crisis, paired with a 5% rise in the electricity price cap, better accessibility to green energy generating methods is music to a potential customers’ ears. The average price per unit rate of electricity is showing no signs of decreasing. A standard payback period on a Solar and Battery installation is now as low as 5 years. So, surely now is the right time to invest?
Not only does this announcement make the technology-driven storage solutions more affordable, it aligns with the UK Government’s plans to decarbonise the UK economy, and achieve a net-zero figure by 2050. By advocating the installation of renewable energy sources across various sectors and striving to make said sources more affordable, we’re all playing a vital part in combating climate change and striving for a greener future.
Interested in what you’ve read? Fortunately, this news is not too good to be true. Pure are now taking orders for Battery Storage systems ahead of the February 1st introduction. Combat the rise in the Energy Price Cap, save 20% on orders with 0% VAT and promote a greener, brighter future by generating, storing and consuming renewable energy throughout your property.
Contact us today for more information and to obtain a free, no obligation quotation.
Other interesting reads…
Check out one of our other blogs, which details the benefits of Solar and Battery Storage in the Winter.
