Feed In Tariff, Renewable Heat Premium Payment & Renewable Heat Incentive
What is the Feed in Tariff?
- A guaranteed premium payment of 14.90p from 1st July 2014 per kWh for ALL the electricity you produce for 20 years
- An enhanced payment of 4.5p per kWh for the electricity produced and exported back to the grid
- The payment is TAX FREE and INDEX-LINKED on domestic use installations
- In addition to the payment, you use your FREE ELECTRICITY
What is the return on investment with the Feed in Tariff?For a 4 kWpeak system fitted to a south facing elevation: Estimated Install Cost £6040 inc vat
|ESTIMATED USAGE||ANNUAL EARNING/SAVINGS|
|Estimated electricity produced by system (Feed In Tariff) 3000 kWh x 14.90p*||£447.00|
|On Electricity used direct-1800 kWh x 14.00p (Average utility company charge per kWh)||£252.00|
|On Electricity produced but exported back to the grid (Feed In Tariff) 1200 kWh x 4.5p||£54.00|
|TOTAL SAVINGS: Combined estimated annual savings and tariff received||£753.00 per year for 20 years|
|Annual Rate of Return on Investment||12%|
SAP 2005 calculation for Annual Solar contribution: The performances of solar systems are impossible to predict with certainty. This estimate is based on the Governments' SAP and is given as guidance only. It should not be considered as a guarantee of performance. Based on average savings on an existing property.
Many of Solarwall's customers are already benefiting from this incentive. So if you are interested in joining them and enjoying not only your own free electricity but a guaranteed annual cash payment from your investment call SOLARWALL on 0800 138 0079 or visit us at the Energy Centre for further information
The Renewable Heat Premium Payment (RHPP)
The Renewable Heat Premium Payment scheme is a government scheme that gives money to householders to help them buy renewable heating technologies – solar hot water panels, heat pumps and biomass boilers.
The Renewable Heat Premium Payment scheme - Phase 2 has recently been extended and will run until 31st March 2014, subject to available funding. The voucher value has also been increased, the new rates are below.
The premium payment you are entitled to depends on the technology you chose
|Solar Thermal Hot Water||£600|
|Air-source Heat Pump*||£1300|
|Ground-source Heat Pump*||£2300|
All installations must be complete and vouchers redeemed by the expiry date on your voucher or 31st March 2014 whichever is sooner.
The Renewable Heat Incentive (RHI)
The Renewable Heat Incentive is open to anyone who has had an eligible technology installed since 15th July 2009. The qualifying systems are Ground & Air Source Heat Pumps, Biomass and Solar Thermal systems.
The financial support will be paid at a set rate per unit of renewable heat produced as follows;
• for biomass the renewable heat generated will be based on an estimated figure of heat demand from an Energy Performance Certificate (EPC)
• for heat pumps the renewable heat generated will be based on an estimate of the heat demand from an EPC combined with an estimate of the heat pump's efficiency
• for solar thermal systems the renewable heat generated will be based on the estimate of system performance completed as part of an Microgeneration Certification Scheme (MCS) installation.
Payments will be made quarterly for seven years, to the owner of the heating system. Below are the unit rates that will be paid:
|Air Source Heat Pump||Biomass||Ground Source Heat Pump||Solar Thermal|
|Tariff (p/kWh renewable heat)||7.3||12.2||18.8||19.2|
So for example if a 2 panel flat plate collector Solar Thermal System generates around 3126 kWh per year you could expect to receive around £600.19 per year for seven years through the Renewable Heat Incentive.
In order to apply for RHI you will need to undertake a Green Deal Assessment (GDA) and submit this assessment with your MCS certificate when the scheme opens next summer.
So act now, book your Green Deal Assessment (GDA) now, or to discuss this in more detail call us today on 0800 138 0079
Talk to us for more information on the Renewable Heat Incentive or click here to be taken to the Department of Energy & Climate Change website
If you wish to be kept updated by Solarwall about developments with the Renewable Heat Incentive - fill in our contact us form and select Renewable Heat.
*where oil/LPG/solid fuel is displaced.