Purchasing solar panels is a hefty investment. Therefore, the cost of solar panels plays a major role. Nevertheless, now is the right time to purchase solar panels. There are several financial advantages that ensure that you can enjoy lower costs, a higher yield and a better return. Besides the various financial benefits for individuals, this also applies to companies that are thinking about purchasing solar panels. For example, there is an SDE++ subsidy. To tell you a bit more about these advantages, in this blog we are going to talk about the possibility of reclaiming the VAT on solar panels. Thus, we hope that soon you will also start investing in a sustainable future.
Reclaiming the VAT from solar panels
If you want to put solar panels on your roof for the first time, there is the possibility of reclaiming the VAT on these solar panels from the tax authorities. This can be both the VAT on the purchase and the installation. The condition of this VAT refund is that your name must appear on the invoice of the solar panels, the energy contract and of the energy company. You can reclaim the VAT no later than 6 months after the year in which you purchased the solar panels. So if you want to reclaim the VAT from your solar panels in 2021, you can still do so in the first six months of 2022. Would you like to know now how much solar panels will cost at all? Then you can request a custom quote on our website. In the quote, in addition to the costs, you will also find the power, efficiency, information about the installation, yields, guarantees and environmental savings. Your personal situation can also be discussed during a no-obligation consultation.
How do you file VAT returns for solar panels?
On the website of the Inland Revenue, you can use three steps to reclaim your VAT from your solar panels. First, you must send a form called “Statement of solar panel holders”. Here mainly personal details of you, your home and the purchase of your solar panels have to be filled in. Then, under the details, enter your account number. This should be done even if the account number is already known. Once you have completed the first step, you will be sent a number of letters from the Tax Office. You will need these to file a tax return. During the tax return, you will need, among other things, the invoice for the installation and purchase, and the tax authorities will need to know the maximum generating capacity of your solar panels. After the VAT return, you will receive a refund decision stating the amount you will receive back. You will then receive your money shortly.
In addition to the VAT refund, there are other ways to save on the cost of your solar panels. For example, there are various municipal subsidies and financial schemes. There is also an SVN Sustainability Loan that makes it possible to invest in solar panels without your own money. Besides the fact that you can find more information about this on our website, you can always contact us if you have any questions. We hope that reclaiming the VAT on solar panels will convince you to invest in your future.
