Right time for heat pumps and solar installation
The market looks ripe for rapid growth in the installation of heat pumps and solar panels in homes across the UK with the boost from Chancellor Rishi Sunak.
In his Spring Statement on March 23rd, the Chancellor announced the abolition of VAT on heat pumps and solar panels and energy-saving materials with aim of helping homeowners keep energy costs down. The measure introduces a zero-rate of VAT for the installation of qualifying Energy Saving Materials in residential accommodation until March 31st 2027.
This 5-year bonus will encourage many more households to make the move. Already, the eye-watering rise in energy prices has made heat pumps a balanced option for people looking replace gas boilers or other forms of heat to reduce carbon emissions while maximising efficiency in heating their homes.
Carbon emissions
We know that domestic heating is responsible for 17% of the UK’s carbon emissions and gas is currently used to warm 86% of homes. The Government is under great pressure to do much more to boost alternative forms of heating.
Recently, the Business, Energy and Industrial Strategy (BEIS) select committee strongly criticised the Government’s plans to end the country’s reliance of gas, saying they were inadequate and lacked clear direction.
There is a mounting and unstoppable pressure for a national move to low-carbon heating, with gas boilers banned in new-builds from 2025. Fast-forward a decade and in 2035 no gas boilers will be acceptable as a heat source.
Both commercial and domestic sectors will be feeling the magnetic pull of planet-friendly, carbon-lite heating solutions and SaveMoneyCutCarbon can provide expert advice and installation options, as well as focusing on the full range of energy-saving, carbon-cutting solutions.
Solar boost
YouGov research shows that 62% of people in the UK want to install solar panels at their home and think that this would be a good move, increasing their property value by up to £30,000.
The Chancellor said that a typical family having rooftop solar panels installed would save more than £1,000 in total on installation, and then £300 annually on their energy bills.
With energy prices expected to go on rising in the coming years, it makes sense for people to produce their own renewable power that also helps the planet by cutting carbon emissions from fossil-fuel energy production.
Call our heat pump and solar specialist Mandip Bhamra on 07570 660948.