In April 2010 incentives were introduced which, when coupled with energy savings, provide a very attractive rate of return on your initial investment and a reduced payback time.
The savings on your bills and income from the incentives will depend on your building, energy use and the traditional fuel you are replacing.
Solarsense can provide a detailed projection of the savings you can make specific to your building as part of your installation. For a detailed analysis of your current energy use, and advice on how we can maximise the incentives you are eligible for, contact a member of our commercial team.
Feed in Tariff (F.I.T)
The Feed in Tariff (FIT) is a government incentive designed to promote the uptake of small-scale renewable and low-carbon electricity generation technologies. It was introduced in April 2010 and designed to gradually decline over time.
If your application is successful, you will receive FIT payments for the electricity your installation has generated and exported each time you submit a meter reading to your FIT licensee.
For the current FIT rates please visit the Ofgem website.
Renewables Obligation Certificates (ROCs)
The RO will close to all new generating capacity on 31 March 2017. There are also a number of early closures which are in force for specific technologies. Generators who are eligible to apply for a grace period can gain entry to the RO after these closures for a specified amount of time.
For more information please visit the Ofgem website.
Renewable Heat Incentive (R.H.I)
The Renewable Heat Incentive (RHI) was introduced in November 2011 for Commercial properties. The RHI will pay system owners for every kWh of heat that is generated and used within your building. Currently you can receive the RHI for both Solar Thermal systems and Heat Pumps (Air Source/Ground Source).
The payment for the RHI will vary depending on the type of technology you install, the capacity of the installation and how much energy you actually use. The payments are guaranteed for 20 years and will be paid every 3 months.
The RHI decreases the payback time on your renewable heat technology and also provides and investment opportunity for your business.