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Renewable Heat Incentive Funding Review

The renewable energy industry has given a varied response to the government spending review, which included sizeable funding for RHI.

The RHI will provide £1.15 billion of funding in 2021 with a reformed focus on value for money, saving £700 million.

There has been a positive development on the Research and Development side, with the Department of Energy and Climate Changes programme doubling its investment to make sure it develops low carbon and renewable energy technologies and smart grids.

There are still social and economic concerns to be addressed as George Osborne noted in the statement “there is no more important infrastructure than energy”, and it is the only way forward to lessen reliance on foreign oil suppliers and take control of our energy needs, safeguarding our future.

There is no denying that a £700m reduction in support for the scheme is a substantial cutback but all is not lost for renewable heat in the UK. The review is reassurance that the Government believes in the scheme and remain committed to meeting the 2020 carbon reduction targets.

We don’t know at this stage how the reforms will affect the RHI tariffs for heat pumps, but many believe it will have a positive impact.

There is also a benefit to installers being able to advise their customers about the benefits and incentives of the RHI.

To find out more about our Renewable Energy Services, please get in touch.

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