Plans for VAT rise on solar panels put on hold
PLANS to increase VAT on solar panels have been put on hold.
However, ministers have now backed down from the controversial move – meaning homeowners across the Midlands can continue to benefit from low cost solar panels.
The Solar Trade Association estimates that if a 20 per cent rise were to go ahead, it would add around £900 to the cost of an average solar PV installation.
While the cost of installing solar panels has fallen significantly, this extra £900 would certainly have put some people off.
So while the Government is supporting the 5% charge for now, our advice is to take advantage of the lower rate while it lasts.
And if you’re in two minds about solar power, did you know that it has the potential to meet all your domestic utility needs?
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