The renewable heating industry has been boosted by the news that the Renewable Heat Incentive (RHI) is to see a budget increase. This means that the RHI will be around for the forseeable future however the tariff degression structure will stay, so it still suits to move quickly. Contact us today to see how your business or home can benefit.
The Commercial RHI was launched in 2011 to incentivise businesses to install renewable heating technologies. The most successful of which has been Biomass Boilers. Biomass Boilers offer excellent returns under the RHI reaching up to 33% ROI. However high installation rates have caused significant tariff degressions. Figures still stack up on larger systems.
Smeaton Wood Energy Ltd is an experienced deliverer of Biomass Boilers and has worked hard to be able to offer a range of procurement options. If a business is not willing to invest capital into a scheme we have multiple finance packages that can allow a biomass boiler project to be cash flow positive. Further to this we even have the option for a fully funded package if needed (no capital and no repayments).
Suitable businesses include those with high heat demands who are not able to connect to mains gas. Such business include: Hotels, pubs, factories, garden centres, office blocks, farms, etc. Even those connected to mains gas can see attractive returns.
Further to the benefits a commercial entity can experience, the right domestic property can also see significant returns. Very large and inefficient homes can see high rates of return on a Domestic Biomass boiler. The reason for this is that the Domestic RHI is linked to the deemed heat demand dictated by the properties EPC (Energy Performance Certificate). The larger and more inefficient a property is, the higher the deemed heat demand. The RHI payment is based on this heat demand figure alone (no heat meter needed). The RHI payment is a simple calculation of the RHI rate multiplied by the deemed heat demand for the property. Therefore if you believe you have an old large home, please get in touch before the next tariff degression.