Installing solar panels will help you save significant amounts of money on your energy costs. Numerous government schemes have been introduced to support renewable energy. This helps homeowners as well as tenants save money and lower their bills. This benefit can also be obtained through grants for solar panels. But it is essential to choose the best panels to maximize your savings.
One of the most common grants available is the Feed-in Tariff (FIT). With the FIT, you will receive payments for every kWh of electricity generated by your solar panels. The FIT will expire on March 31, 2019. You can continue to receive payments for the length of your contract. The Solar Buyback Scheme is another option. It pays you an upfront lump-sum and collects your FIT.
Another option is the Energy Efficiency Grant. This incentive encourages homeowners to improve the indoor climate of their apartment buildings. This grant will allow for up to PS1,600 of annual savings. It will be distributed in three proportions. The amount of work that you do at your home will determine the grant.
Smart Export Guarantee is available for business owners. You can also make money with your solar panels, in addition to the grant from the government. You have no limit on how much you can make from this program. All licensed suppliers are required to offer export tariffs for customers. These tariffs can be offered to those suppliers that have fewer customers but they are not directly government grants.
Zero VAT Scheme, another option for reducing your energy expenditures, is also available. This applies to all energy-efficient measures that are installed in homes and is valid up until March 2027. A solar panel can be installed without VAT, saving a family approximately PS1,000.
The Scottish Government will grant you a loan if your property is located in Scotland. This loan is not subject to interest and is repayable over five- or ten-year periods. Approval must be received within six months. The 1.5% administrative fee must be paid by successful applicants.
The UK has introduced several additional solar panel grant schemes in recent years. These include Energy Savings Scotland Home Renewables, the ECO4 Scheme or the Smart Export Guarantee. Each program has different benefits. All of these programs offer different benefits.
The ECO4 Scheme offers incentives to homeowners who make energy-efficient home improvements. It allocates PS4 billion for this purpose, which includes a PS4 billion investment in solar panels and heat pumps. The UK government committed to reducing the country's carbon emissions by 32% over this period. To help reach the target, you should make full use of the incentives and grants available.
GreenMatch is the best place to start if you are looking for grants for solar panels. This service can assist you in finding the best deals on the market. They will regularly review the latest news from the government, so you will always have the most up-to-date information.