Since the withdrawal of the Feed-in Tariff (FiT) and the Export tariff funding back in March 2019, what other option do you have to finance your green technology?
Have you heard of Air Source Heat Pumps?
Air Source Heat Pumps are not just an efficient green energy solution, they can also make use of the Renewable Heat Incentive (RHI). So, with the Feed-in Tariff gone, the RHI allows you to access finance that covers the cost of green technology for a period of seven years.
How do Heat Pumps work?
Heat pumps use the heat from the air or ground in the outside environment to efficiently heat your home or business property. They intelligently soak up any heat even in temperatures as low as -20, so it can be used all the year round.
There are 2 types of heat pumps, you have the Air Source heat pump and the Ground Source heat pump:
Air Source Heat Pumps
An air source heat pump is a system which extracts heat from the outside air and transfers it inside your building through vapor compression.
The compressor unit is fitted outside of your building, normally on the ground and ideally in a sunny spot, but this isn’t vital to its performance.
The Air Source Heat Pump increases the temperature of the extracted outside air so you can use it in your underfloor heating, radiators and for your hot water.
Ground Source Heat Pumps
Ground source heat pumps use a looped system of pipes to circulate a mixture of water and antifreeze through pipes buried in your garden.
The heat from the ground is absorbed by the fluid in the pipes and is transferred to the heat pump and into your home ready to be used in your radiators, as hot water or for underfloor heating.
You can save money by having your heat pumps installed through the Government’s Renewable Heat Incentive scheme.
Renewable Heat Incentive (RHI)
The Renewable Heat scheme is designed to encourage more homeowners and non-domestic sectors to embrace green technology.
If you generate heat via renewable energy sources including air source and ground heat pumps, solar thermal panels, Biomass-only boilers and biomass pellet stoves with integrated boilers you will be rewarded with quarterly payments over seven years.
The payment amount will depend on which green technology you install and the tariffs at that time.
For more information on the Renewable Heat Incentive scheme visit the Government website and the Energy Saving Trust website. Or try the UK’s government’s renewable calculator to discover how much you could save.