Funding options available to help you spread the cost of your renewable energy systems
SEG.
Smart Export Guarantee
The Smart Export Guarantee (SEG) enables small-scale generators to receive payments from electricity suppliers for electricity which they export back to the National Grid (subject to certain criteria)…
BUS.
Boiler Upgrade Scheme
Through the Boiler Upgrade Scheme, you could get a grant to cover part of the cost of replacing your fossil fuel heating system (includes: oil, gas or electric) with a heat pump or biomass boiler installation…
0% VAT.
On Renewable Products
The Government has introduced Zero-Rated VAT on the installation of energy saving / renewable products (solar panels, air source heat pumps & battery storage) for all homes in the UK until 31 March 2027…
The Smart Export Guarantee
The Smart Export Guarantee (SEG) is a Government backed initiative, launched back in 2020 – the SEG requires some energy suppliers to pay small scale generators (usually domestic properties) a tariff for energy exported back to the grid.
SEG Eligibility
The SEG is available to those with one of these renewable technologies – Solar photovoltaic (solar PV), Wind, Micro combined heat and power (micro-CHP), Hydro Anaerobic digestion (AD). The installation must be within Great Britain and will need to meet certain criteria, for example you’ll need a smart meter to be fitted if you don’t already have one.
An Application for the ‘Smart Export’ will need to be made to your energy supplier (British Gas, Octopus, Eon for example) and the installation must be registered with your local DNO (Distribution Network Operator) – the DNO is registered by us.
Value and Payment…
The Smart Export tariff is determined by your energy supplier but must always be above £0.00 – the amount may chance and it’s usually good to shop around, the currently average is around 5p per KWH exported – but some providers such as Octopus and Eon are offering more attractive rates on special tariffs, which could be as much as 20 per KWH! For further reading, please refer to: www.ofgem.gov.uk
ENQUIRIES
To discuss and apply for SEG Funding, please contact Renewafuel. To discover how much you could be saving with Renewafuel, please check out our Free Energy Assessment
The Boiler Upgrade Scheme
The Boiler Upgrade Scheme (BUS) supports the decarbonisation of heat in buildings. It provides upfront capital grants to encourage and support the uptake of low-carbon heating systems / installation of heat pumps in homes and non-domestic buildings in England and Wales.
BUS Eligibility
You must own the property and the installation cannot be for a ‘hybrid system’ (the heat pump must replace the existing system.) £450 million of government grant funding is available over three years from 2022 to 2025. BUS (Air Source Heat Pump Installers) need to be certified by the Microgeneration Certification Scheme (MCS). Renewafuel is a fully accredited MCS installer and as such we operate and are bound by the MCS terms and conditions.
Value and Payment…
Acting on behalf of property owners, Renewafuel can apply for £7,500 off the cost and installation of an air source heat pump. For further reading, please refer to: www.ofgem.gov.uk
ENQUIRIES
To discuss and apply for BUS Funding, please contact Renewafuel. To discover how much you could be saving with Renewafuel, please check out our Free Energy Assessment
0% VAT On Renewable Products
Government backed Zero-Rated VAT on the installation of energy saving products. In April 2022 the Government announced that solar panels, air source heat pumps & solar energy battery storage in residential accommodation would receive a tax cut to 0%.
Zero VAT Eligibility
The 0% VAT on renewable product installations is a time limited measure to help families invest in products that make them less reliant on energy suppliers and current high priced tariffs for gas and electric. You don’t need to do anything, the final price you pay already has the vat removed – your invoice will show the vat amount as 0%.
Value and Payment…
The 0% VAT on energy efficiency measures will be in place until the end of March 2027 and is automatically removed from the cost of your purchase. Happy Days! For further reading, please refer to: www.gov.uk
ENQUIRIES
To discuss 0% VAT on renewable product installations, please contact Renewafuel. To discover how much you could be saving with Renewafuel, please check out our Free Energy Assessment
