The Renewable Heat Incentive (RHI) is a Government scheme designed to encourage the uptake of renewable heat energies in domestic, commercial and institutional buildings across the UK. The scheme uses financial incentives to encourage homeowners, businesses and community organisations to switch to renewable energy sources.
Launched in 2014, the scheme has seen a number of updates and alterations over the past few years. If you’re thinking of taking advantage of the scheme, finding out the latest news about RHI will help to ensure you get the most out of this innovative incentive.
Why do we need the RHI?
As fossil fuels become more expensive and harder to extract, renewable fuels will become increasingly important. The Government wants to ensure that more and more of the energy that’s used for heating our properties comes from these greener sources. By 2020, it’s hoped that 12% of the energy required for heating will come from renewables.
When will the RHI run until?
The Government recently announced that the Renewable Heat Initiative
would continue until at least March 2021. This gives businesses and
homeowners plenty of time to plan and install their renewable fuel sources and make their homes that bit greener.
After March 2021, it’s likely that the Government will move away from
incentives towards prohibitions and regulation. This will probably mean that certain types of boiler or heating system will be banned and that new buildings will be required to have a minimum amount of renewable energy heating the property.
How much does it cost to install renewable heat technology?
The amount it costs to install renewable heat technology will vary from
property to property. However, in general most homeowners will be looking at a cost of between £4,000 and £18,000. Although this sounds like a lot of money, most people who install renewable heat technology see dramatic and consistent reductions in their energy bills. When these reductions are combined with payments from the RHI scheme, most homeowners find that they’re not left out of pocket.
How much money do you get as part of the RHI?
The amount of money you’ll receive will depend on your individual
circumstances. The size of your home, the amount of energy you use and the renewable energy source you choose will all be factored into the calculations.
There are various online tables and calculators available to help you work out exactly how much you could save.
If you’re looking for ways to make your home more comfortable, more efficient and kinder on the environment, we can help. Explore our site or get in touch with a member of our team to find out more.