Considering having solar panels installed at your home? You certainly might be now that chancellor Rishi Sunak has slashed VAT on them. Here's everything you need to know about using solar power to run your household.
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How much do solar panels cost?
Like with most home improvements, prices can vary depending on the quality of the item you purchase. Solar panels range from basic to luxury, but on average you can expect to pay in the region of £4,000+.
© Photo: AlamySolar panels make your home more attractive to buyers
Are there government grants for solar panels?
The UK government is trying to incentivise households to utilise solar power and one way they have done this is by cutting VAT on all solar panel products. On Wednesday 23 March, in Rishi's mini budget, he announced the measure. The zero VAT policy will also apply to heat pumps and other energy efficiency products.
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What are the benefits of solar panels?
Solar energy is renewable energy, and we aren't going to run out of it in the same way as we do with things like fossil fuels. Not only is switching to solar panels great for the environment, it also has cost-saving perks too. Adding solar panels to your property could save you hundreds on your bills. Go to the Energy Saving Trust's online calculator to see how much money you would actually save based on your specific property.
© Photo: AlamySolar power is a smart way to reduce your energy bills
Plus, research by money.co.uk suggests that having solar panels can increase your house price, and the perceived cost of them for buyers is more than the actual cost!
What are the drawbacks of solar panels?
The initial upfront cost is one of the biggest downsides to solar panels, but once they are up and running, they are beneficial. Then, of course, the fact they are dependent on sunlight could be seen as a downside as cloudy days and night times are not very efficient.
You can also sell your solar energy
How do I use my solar energy?
Once installed, your electricity will first come from the energy from your solar panels – and even if you have energy left over you can sell it back to the grid! For more information on the Smart Export Scheme, check out moneysavingexpert.com.
Where can I buy cheap solar panels?
While having them installed must be done by a professional, the panels themselves are becoming more readily available in ordinary places like Amazon and Screwfix.
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