British government agreed to lower the solar battery VAT
Recently, the UK Customs Service (HMRC) agreed to impose only 5% VAT on the batteries purchased with household solar power systems, adding momentum to the growing energy and energy industry in the UK.
HMRC had set the value-added tax rate for all energy storage products at around 20%, but the solar energy trade association (STA) said the battery as a part of the solar system should be the same as the standard for household fuels and power grids. The government has adopted this proposal.
HMRC and STA, who explained why the VAT rate should be reduced to 5% when the battery is purchased with the solar power system. "Lowering the new system value-added tax rate will enable households to adopt solar power technology while accepting energy storage technology," said Seb Berry, vice president and vice president of solar energy at Solarcentury, a UK solar developer. "Investing in solar energy is a good choice, Homeowners can better control energy revenues and expenditures. "
After the solar battery VAT rate fell to 5%, Britain's potential to use solar energy users to install energy storage system more likely, and the good news coincides with the UK to cancel the subsidy after the solar deployment rate fell to seven years when the trough.
Although the British government's support for solar energy gradually weakened, but most of the British people are still strong supporters of solar energy.
"The latest energy polls from the UK Business Energy and Industry Strategy (BEIS) show that solar energy is still the most popular energy source, with support rates as high as 86%," said Leonie Greene, director of foreign affairs at STA.
STA is committed to continuing to negotiate with HMRC to persuade it to lower the tax rate for all energy storage products, including those that have not been purchased with solar power systems.
Tags: British HMRC solar power generation solar gel battery VAT
