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The opportunity to take advantage of funding available for heating your own home is shortly coming to an end.
As previously reported, the domestic Renewable Heat Incentive (RHI) scheme finishes on 31st March 2022. This is a Government scheme which pays homeowners for heating homes by a renewable source, such as an air source heat pump, ground source heat pump or biomass.
There is not long to go before the current scheme finishes, therefore anyone wanting to apply needs to have their system commissioned and running on or before this date.
An investment in renewable technology usually requires a higher capital outlay, however the RHI payments are designed to repay this over a period of seven years. In the meantime, the occupants benefit from the technology as well as lower running costs for the property.
We have been involved in a number of domestic schemes which have already taken advantage of the tax-free annual payments which are also index linked.
One satisfied customer quotes “When my air source heat pump was commissioned, I arranged for the gas company to disconnect my gas meter. I was a little nervous about committing solely to electric heating, however last year my electricity bill was less than the previous year’s combined gas and electricity costs.” It just goes to show with careful planning and the right design, renewable technology can make a real difference.
All is not lost after March 2022. We are still waiting for the Government to announce what might take over from the current scheme. However, its rumoured not to be as financially lucrative as the current scheme.
If you are planning to carry out a major refurbishment then it will still be worth considering installing new renewable technology. This is also very timely given the Government’s goal to cut carbon emissions and the announcement that by 2025, all new homes will be banned from installing gas and oil boilers. Renewables are going to be placed at the forefront of people’s future schemes.
If you are looking to develop your property and incorporate renewable technology in your project, please contact Robert Franklin, Head of Architecture & Building Surveying, at Robinson & Hall, on 01234 362917 or email rjf@robinsonandhall.co.uk
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