On 10 March 2011, the Government announced the details of the Renewable Heat Incentive (RHI) policy to revolutionise the way heat is generated and used in buildings and homes.
This is the first financial support scheme for renewable heat of its kind in the world.
The Renewable Heat Incentive has been launched in the UK and will come into effect in NI in Nov 2011. (details to be announced later this year) by Department of Energy and Climate Change. http://www.decc.gov.uk
In GB it amounts to BUSINESSES getting CASHBACK ON Heat Costs for 20 years. ROI estimated at 12%
Support for a range of technologies and fuel uses including solid and gaseous biomass, solar thermal, ground and water source heat-pumps, on-site biogas, deep geothermal, energy from waste and injection of biomethane into the grid
Have you got a renewable energy system in place in your business?
It is guaranteed by the Government and the scheme lasts for 20 years. Any renewable heat systems such as biomass boilers installed since July 2009 will still qualify.
The scheme will be introduced in two phases.
In the first phase, long-term tariff support will be targeted in the non-domestic sectors, (Business) - at the big heat users - the industrial, business and public sector – which contribute 38% of the UK’s carbon emissions.
Businesses with Renewable Energy will be Rewarded First. Then they will look at the domestic sector.
Systems rewarded Include biomass, solar thermal panels and heat pumps (including air source heat pumps)
Loan for Business from Carbon Trust
The Carbon Trust is offering an interest-free loan for renewable energy projects to small and medium-sized businesses (SMEs). You can borrow from between £5,000 to £200,000, with repayments proportional to the fuel savings. Businesses based in Northern Ireland may be able to borrow up to £400,000.
www.carbontrust.co.uk
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