With solar thermal panels you’ll be able to save money on your energy bills and even earn a fixed income for seven years after recent Government announcements. From 2014, the Renewable Heat Incentive (RHI) will come into being, helping to secure thousands of homeowners’ energy futures.
But with experts worrying that this incentive could trigger prices for solar thermal panels to increase, now is the time to invest in an installation and be in position to make maximum return on investment.
For solar thermal panels, the Renewable Heat Incentive rate will be 19.2p/kWh, which is the highest level for renewable heat technologies in the UK.
This Government scheme has been in motion since 2011, when the commercial side of the incentive was launched. With the EU setting stringent carbon reduction targets, the RHI gives the Government an opportunity to clamp down household CO2 emissions and move one step closer to meeting these goals.
And it’s not just the solar thermal RHI which is providing a much needed boost to the renewable heat industry. The Renewable Heat Premium Payment grants have doubled too, helping you with the cost of installation.
With the RHPP grant you can receive:
- £600 off the installation price for solar thermal panels
Am I eligible for the solar thermal RHI scheme?
The solar thermal Renewable Heat Incentive is a scheme open to homeowners and landlords all over the UK. If you are in rented accommodation you need to seek your landlord’s permission for renewable technology to be installed.
The scheme will reward those who install the technology now and backdates to installations from July 15 2009 as well.
To be eligible for the scheme, you must have one of the following technologies installed: air to water heat pumps; biomass only boilers and biomass pellet stoves with back boilers; ground and water source heat pumps; flat plate and evacuated tube solar thermal panels.
When will I receive solar thermal Renewable Heat Incentive payments?
The scheme will officially open for business in spring 2014, with the above mentioned tariff rates. Payments are distributed quarterly and each technology will be eligible for seven years of earnings.
On top of this payment, the Department of Energy and Climate Change also intend to pay homeowners £230 a year if they take a metering and monitoring package with heat pumps.
Energy and Climate Change’s Greg Barker said: “The Coalition is committed to helping hardworking families with the cost of living.
“Investing for the long term in new renewable heat technologies will mean cleaner energy and cheaper bills. So this package of measures is a big step forward in our drive to get innovative renewable heating kit in our homes.
“Householders can now invest in a range of exciting heating technologies knowing how much the tariff will be for different renewable heat technologies and benefit from the clean green heat produced. We are also sending a clear signal to industry that the Coalition is 110 per cent committed to boosting and sustaining growth in this sector.”