RHI: Three little letters which could mean so much
If you don’t work within the renewable energy industry then you could be forgiven for knowing nothing about the Renewable Heat Incentive (RHI), but the old adage that a little knowledge can be a powerful thing has never been more true.
If I told you the government had made available a pot of £860 million for owners of renewable energy heating systems, you might raise an eyebrow. If I then told you that by installing such systems, you could claim a share of those payments which are tax-free, index-linked and paid direct to your bank account for seven years, you might raise another eyebrow. If I then told you that by installing these systems you could also reduce your energy bills in addition to receiving these payments, you’d probably ask where the catch is. The fact is there simply isn’t one.
The RHI is a huge incentive to encourage the uptake of renewables in order to help reduce the impact of climate change but currently, relatively few people know anything about it. However, as a reader of this blog, this represents an excellent opportunity for you because with knowledge rather than interest levels being low, you have the chance to gain most before the masses learn more.
A real example of this is the solar Feed-in-Tariff scheme which at its height was paying 43 pence per kilowatt hour. As awareness and interest peaked, this was quickly reduced and currently stands at 13.88p so you can see how getting in at the start can really pay dividends.
With rates on savings currently low, investing in renewables could be a way of achieving a return on investment while at the same time reducing overall energy costs and doing your bit for the planet.
For more information visit the ice energy website here.