Friday 12 July 2013
The Domestic Renewable Heat Incentive has finally arrived!
This is a major step as an incentive to change over to Renewable Heat from fossil fuels, especially Oil and LPG which are traditionally the only fuels available to the rural community, costing twice as much as mains gas.
Technologies and tariff levels included in the announcement are:
Biomass: 12.2p per kWh
Air Source Heat Pumps: 7.3p per kWh
Ground Source Heat Pumps: 18.8p per kWh
Solar Thermal: 19.2p per kWh
Payments will be made quarterly over a period of seven years. The rates are based on a 20 year generation of the installed equipment, which is why the kWh rates are much higher than expected.. You'll get 20 years worth of payments crammed into a 7 year period.
Obviously this incentive is designed to get people converting over to Renewables if their property is suitable.
The rates are really good, and taking Biomass as one example, a standard 4 bedroom house with a 14kW pellet boiler could typically use around 9130 units annually, which will earn £1113.86 every year and £7800 over the whole 7 year period!
Bearing in mind that typically converting an oil based heating system over to Biomass (14kW) can be around £4000, combined with the far lower fuel costs, being Green is a marvellous way to heat your home.
Obviously, the same story applies to other technologies listed.
Currently available, to help you in the change over, is a Renewable Heat Pre Payment. This voucher scheme goes hand in hand with the RHI, and releases a sum of money from the RHI to be earned.
For more details on the announcement Click HERE