While the cost of solar panels and battery storage has decreased as the technology has improved, they are still a substantial investment. As the price has reduced, so has the number of years to break even, making them a more financially viable investment. This said, it is still a considerable cost for the average household. To combat this, various schemes can help people with grants to invest in greener energy solutions, such as solar battery storage. As with many government schemes, government grants for battery storage do change and have specific criteria for eligibility. It’s therefore wise to always check what is available when looking into solar panels and battery storage, as new government schemes may have been launched, and older schemes may have finished.
Understanding Home Battery Storage Systems
Solar panels are an incredible way to generate clean energy that can be used to power your home. However, the historic problem with solar panels is that they generate energy during daylight hours when the average household is away from home. The peak hours for energy usage are during the evening when it is dark. Solar battery technology has revolutionised this by providing an affordable and practical way for residential properties to store energy produced by their solar panels during the day so that they can be used during the evening when needed. While this battery storage system does require investment, it will also reduce energy bills and reliance on the national grid and improve your carbon footprint. If you are thinking of investing in solar panels, then a domestic battery will massively improve the efficiency of your residential energy system.
Government Grants for Home Battery Storage in the UK
Government grants are available, but it is essential to do your research thoroughly. Many grants target lower-income families, while some specifically target poor energy-rated houses. You may not be eligible for a grant. However, everyone can take advantage of the current 0% VAT rate on home battery storage, which is set to run until the 31st of March 2027, after which it will revert to a 5% VAT rate. Whilst this may not strictly be a grant, it does represent a substantial saving for anyone looking to reduce their energy bills and improve their environmental impact.
Exploring Specific Grant Programs
- Green Homes Grant Scheme—This excellent scheme helped householders invest in environmentally friendly methods of improving their homes, from increasing insulation to installing a heat pump. This government grant ended on March 31st, 2021.
- Renewable Heat Incentive (RHI) -This government scheme was a payback scheme where you could receive payments for renewable energy that you produced. This grant ended on the 31st of March 2022.
- Energy Company Obligation (ECO)—This scheme targets lower-income households living in energy-inefficient homes. It places the onus for home improvements on the energy supplier and is designed to help upgrade homes and reduce their energy bills. This scheme aims to improve insulation in homes rather than energy storage, such as our home batteries.
- Local authority grants and schemes – Solar Together is one of the best ongoing local authority schemes. You can register your interest in solar panel installation with your local authority, and they collectively bid for solar panels. This usually results in a far better rate due to securing a bulk deal, and you could see savings of 10% to 25%
Assessing Eligibility and Application Process
All government schemes have strict eligibility criteria. It is essential to see if you meet the requirements before applying, or you will save time. The best time to invest in a home battery storage setup for your home is now, while you can take advantage of the 0% VAT rate. The 0% VAT rate is for everyone and does represent a significant saving, while most grants are aimed at certain sections of the population.
Understanding the Benefits and Savings
Suppose you are considering battery storage through a grant scheme, thoroughly research. However, remember that if you buy your battery storage before the 31st of March 2027, you will enjoy the 0% VAT on this. This represents a saving of 20% of the previous price for a battery. Investing in battery storage, either as a standalone or as part of a solar panel system, will save you money in the long run, and the VAT relief currently in place will considerably reduce the setup cost of your battery storage setup.
Considerations for Installation and Maintenance
As always, when you have work done in your home, such as installing solar panels or battery storage to optimise the system, ensure you get a few quotes from reputable tradesmen. Ensure they are registered and approved so your investment in your battery storage setup is carried out professionally. Home energy storage systems shouldn’t require maintenance. Your batteries should simply do their job, storing energy and powering your house, reducing your bills and environmental impact.
Enjoy VAT Relief on Your Solar Battery Storage
We believe in a greener future. Solar power is a simple and easy way to provide energy for residential properties. We are working to help create change towards cleaner energy with our solar battery storage systems. We have worked to design and develop a high-quality, long-lasting solar battery that can be retrofitted to existing solar panels, installed as part of a new solar energy setup, or as a standalone battery to save money when buying from the grid simply. With Duracell Energy products, you can be confident in the quality of our batteries and have peace of mind in our helpful and knowledgeable customer service team. To reduce your energy bills, improve your carbon footprint, and reduce your reliance on the grid, simply fill in our online quote calculator and enjoy a brighter and greener tomorrow.