Landlords can now generate money from generating renewable energy

Landlords can now generate money from generating renewable energy

A government-backed scheme, that was originally expected to launch in Autumn 2012, that will pay social and private landlords for the green heat generated from their homes has finally been launched this week.

This offer is also open to homeowners and self-builders, where the Domestic Renewable Heat Incentive offers payments to offset the cost of installing low carbon systems within a property.

The heating systems that landlords can use to generate income are:

  • biomass boilers,
  • air and ground source heat pumps
  • and solar thermal panels.

Those who participate with the RHI scheme will then be given quarterly payments over 7 years for the amount of renewable heat that their system produces.

Social landlords were able to bid for funds to install renewable heating technologies within their housing stock and landlords must claim their grants from the Energy Saving Trust by 30th June.

Greg Barker, Energy Minister, said:

‘Not only will people have warmer homes and cheaper fuel bills, they will reduce their carbon emissions, and will also get cash payments for installing these new technologies.’

Andy Deacon, director of development at the Energy Saving Trust, said:

‘The domestic RHI makes renewable heat technologies more cost-effective in off-gas properties – around 6 per cent of all UK homes – which are often heated by more expensive fuels.

‘With rising energy bills and worries about energy security, there needs to be a major transformation in the way we heat our homes, with the domestic RHI helping to make this a reality through enabling households to receive an income for renewable energy generation, while also achieving financial and carbon savings.’

John Alker, director of policy and communications at the UK Green Building Council, said:

‘The long wait for the domestic RHI is finally over and people can now start to be rewarded for the clean, renewable heat they produce in their homes.

‘Alongside the green deal, the RHI will help to create homes that are warmer, cheaper to heat and that emit fewer carbon emissions – major wins in the fight against rising energy bills and climate change.’

For more information on this scheme please visit: http://www.energysavingtrust.org.uk/Generating-energy/Getting-money-back/Renewable-Heat-Incentive-RHI

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Author: News @ Tenant Referencing

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