When you install solar panels you will save a lot of money on energy costs. Numerous schemes have been created by the government to encourage renewable energy. This helps tenants and homeowners to save money and reduce their monthly bills. A grant for solar panels is one way to get this benefit. You will need to make sure you choose the right panels for your savings.
Feed-in Tariffs (FIT) are one of the most well-known grants. For every kWh generated by your solar panel, the FIT will pay you. However, the FIT is set to end on March 31, 2019. You will continue to be paid for the term of your contract. You may also consider the Solar Buyback Scheme. This gives you an upfront lump sum and collects your FIT payments.
The Energy Efficiency Grant is another option. This incentive is for homeowners to improve the interior climate of their apartments. This grant will allow for up to PS1,600 of annual savings. It will be distributed in three proportions. The grant amount will depend on how much work you do in your home.
Smart Export Guarantee is available for business owners. Apart from the government's grant you can also earn money through your solar panels. 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 are not direct government grants, but are offered to suppliers with fewer customers.
Zero VAT Scheme is another option to reduce your energy costs. This is valid until March 2027, and it applies to the installation of energy-efficient measures in homes. You could save up to PS1,000 by not paying VAT for the installation of a solar panels.
The Scottish Government will grant you a loan if your property is located in Scotland. This loan is interest-free and repayable over five to 10 years. Approval must take place within six month. The administrative fee for successful applicants is 1.5%.
The UK has introduced several additional solar panel grant schemes in recent years. These include the Energy Savings Scotland Home Renewables grant, the ECO4 Scheme and the Smart Export Guarantee. Each one has its own benefits. To find the best solution for your needs, it is advisable to research all of these programs.
The ECO4 Scheme gives incentives for residential energy-efficiency improvements. It provides PS4 trillion in funding, including an investment of PS4 trillion in heat pumps and solar panel. During this time, the UK government has committed to a 32% reduction in the country's carbon footprint. Until this target is achieved, it is important to take advantage of the various grants and incentives available.
GreenMatch is a great resource for those looking for grants to finance solar panels. This service can help to locate the best deals. They will regularly review the latest news from the government, so you will always have the most up-to-date information.