In 2020 the government introduced a new scheme. They called this the smart export guarantee (SEG)
This article will be covering Solar Panel Funding Reviews and options in 2021.
So for anyone looking to install solar panel funding energy solutions. This article is a must read to cover all the options available to you.
Listed below are the options available to homeowners and UK landlords covered in this solar panel funding review:
- Smart Export Guarantee (SEG)
- Renewable Heat Incentive (RHI) (this applies to solar heating only)
- Reduced VAT for Energy-Saving Products
- Green Homes Grant Scheme (this applies to solar heating only)
- Feed-in Tariff (FIT) (no longer available to new applicants)
Smart Export Guarantee (SEG)
The smart export guarantee was a scheme that was rolled out in January 2020. Under the scheme, homeowners can benefit by selling energy produced from solar panels installed in the roof space of the property.
This scheme is not directly a solar panel funding option from the government! Here is how it works!
All licensed suppliers and installers must now offer an export tariff to their clients. Companies that have more than 150000 customers have to offer the tariff.
Those with fewer customers can opt in on a voluntary basis. So we advise you check this before you sign up.
The SEG allows homeowners with small scale low carbon solar electricity generators to receive payments for surplus energy they sell back to the suppliers. To be able to do this, a smart meter must be used to keep track of electricity usage.
Renewable Heat Incentive (RHI)
The domestic RHI scheme was introduced on the 9th of April 2014. If you are thinking of using solar thermal heating in your home, you could benefit from the RHI scheme.
It was originally rolled out for the commercial sector, however, in 2014 it was extended to domestic use. For more info on RHI follow the link here.
If you meet the specific criteria, your solar panel installation and product could be eligible for a 5% tax reduction under the new VAT pricing system.
If you are over 60 years of age or you are receiving income or disability benefits, you could be eligible for this reduction. Check the government’s website here for full details.
Green Homes Grant Scheme
The green homes grant, that supplies funding to UK homeowners and landlords with £5000-£10000 worth of vouchers to cover the costs of various renewable home energy solutions.
This scheme is due to end on the 31st of March 2021 and also only covers solar thermal heating, not solar panel funding.
There are many options available we hope these solar panel funding reviews were useful to you
Please don’t hesitate to contact us via the link provided here to discuss your solar panel funding options covered in this review.