The Treasury today, published its response to the fundamental review of business rates that launched last summer. Solar Energy UK is delighted to see that the Government has taken a significant step to support businesses to decarbonise their operations by exempting onsite solar panels, battery storage, and other eligible renewable energy technologies from business rates.
Solar Energy UK has been advocating for this change since the rates increase was introduced in 2017. This critical reform will not only accelerate the decarbonisation of the commercial and public sectors but further accelerate the strong growth we see in the rooftop solar and commercial storage markets, creating green jobs across the country and driving additional private investment.
This is a much-needed change to help hasten the energy transition and leverage the strength of the UK solar and storage industries in delivering the Government’s net zero objectives. This reform will come into effect from 2023, the start of the next business rates revaluation period. The Government intends to set out further details on this reform later this year in a subsequent technical consultation.
Chris Hewett, Solar Energy UK’s Chief Executive, said: “Today the Government have given rooftop solar a big endorsement by finally removing the perverse business rates treatment for onsite solar and energy storage, originally imposed in 2017. Companies and public sector bodies which have taken action to cut carbon by installing solar, will now also be rewarded with a cut in their business rate bills in the future.”
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