RHI approved by the EC

alt tag goes here

News article

RHI approved by the European Commission

October 2011

renewable energy news

The Renewable Heat Incentive (RHI) has finally been approved by the European Commission (EC), paving the way for its release before the end of November.

The government scheme, designed to encourage the uptake of renewable heat, is the first of its kind in the world. It will provide £860 million of subsidy, encouraging farmers and landowners to invest in renewable heat technology.
 
The latest approved RHI saw an alteration to the tariff rate for large scale biomass over 1MW, bringing the 2.7p/kWh tariff down to 1p/kWh. This will have a significant effect upon those looking to invest in this opportunity on a large scale.
 
Rebecca Seaman, Associate at Fisher German, comments “This is obviously a significant drop and will affect those looking to develop this technology. Under the 2.7p/kWh tariff, a 1MW biomass boiler would have received annual payments in the region of £60,000 dependent upon heat loads. The new 1p/kWh rate would see the same boiler receive an annual payment of somewhere in the region of £22,000. 
 
“Such a large change is somewhat disappointing at this late stage, however, once the dust settles we believe that there will be still worthwhile investments at this scale.
 
“The good news is that for those installing biomass under 1MW, such as installations on farms and estates, the rate has remained unaltered with the RHI is calculated to provide a return of 10-12%. 
 
“As with all funding support schemes this is a complicated area but basically if you are not on the gas network and using electric, LPG or oil for your heat, the RHI can transform the way in which you make your heating choices. 
 
“This is a fantastic opportunity for people to develop heat from a renewable source. For anybody planning a refurbishment or new build, even if you are on gas, we would urge you to consider how the RHI can support your choices into a low carbon and lower cost future.”
 
If you have any further questions regarding the RHI and its implications, please contact Rebecca Seaman on 01858 411219 or email rebecca.seaman@fishergerman.co.uk 
latest news

latest news

alt tag goes here
alt tag goes here
forthcoming events

forthcoming events

alt tag goes here
Lorem ipsum
Copyright © 2015 Fisher German    All rights reserved   |   Privacy Policy  |   Site Map   |    Accessibility                                                            Created by Supadü
alt tag goes here
Site Search
Awards logo - winner
facebook-social-icon
facebook-social-icon