With unprecedented increases in energy prices and the attack on Ukraine affecting the global energy market, the UK government has released its Spring Statement 2022, which places huge focus, among other initiatives, on helping households from rising energy bills.
Chancellor Rishi Sunak announced cutting VAT from five percent to zero on installing energy-efficient systems such as heat pumps.
Homes will benefit from zero VAT on energy-efficient measures for the next five years from April 2022 until 2027.
Heat pumps are incredibly energy efficient using electrical energy to move heat rather than generate it. Historically, heat pumps have struggled to compete with cheap natural gas prices, however, heat pumps finally make economic sense for the average home even in colder climates.
With the price increases and instability of natural gas prices, coupled with scrapping of VAT for homeowners, now is an excellent time to invest in green energy for your home’s heating supply.
With global concerns around energy prices, it is without a doubt that this is the best time to invest in clean renewable energy that will, in the future, protect homes from the volatility of the fluctuating market and increasing gas prices in the UK. The VAT on renewables was 5%, which was already low, but scrapping it will potentially see people from paying excessively on their energy bills.
The UK's initiatives to push green energy into private households are just the beginning of a green and clean future, and a great incentive to make energy-efficient choices for your home.
To discuss how we can assist you and for a free no-obligation survey and quote, please get in touch.
George Clarke introduces the latest Mitsubishi Electric Ecodan, Air Source Heat Pump. Using renewable technology it is the perfect home heating solution for off-gas homeowners.