The Treasury has declared that every one battery storage methods are actually exempt from VAT, providing a 20% price discount and increasing the aid to grid-connected batteries.
This transfer goals to facilitate larger adoption of energy-saving supplies (ESMs), aligning with the federal government’s purpose of reaching web zero emissions by 2050.
The federal government has acknowledged the optimistic response from the power sector following the enlargement of VAT aid on ESMs, introduced throughout Spring Assertion 2022.
Final yr’s reforms simplified shopper entry to the aid, zero-rated qualifying ESMs for VAT functions and broadened the scope of eligible supplies.
Set to take impact on 1st February 2024, these everlasting reforms apply throughout the complete UK, following the Windsor Framework.
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