Financial incentives for energy improvements
Are you missing out on financial help for energy-efficient home improvements in 2021?
Despite the demise of the Green Homes Grant, there are several financial incentives and eco-funding available for eco-friendly home improvements. But according to Viessmann, which surveyed 1,000 adults in the UK, only 6.9 per cent of respondents either currently use, have used, or plan to use any form of these schemes. Thousands of households are missing out on saving money and taking up the incentives to make their homes more environmentally-friendly.
The Renewable Heat Incentive (RHI)
This financial incentive provides payments for qualifying renewable heating technology. This includes energy generation methods such as solar thermal panels, biomass boilers and heat pumps.
The scheme sees those eligible receive quarterly payments for up to seven years for homes and 20 years for businesses. How much heat you generate sustainably determines size of the payments . Installation costs for these renewable technologies is high. But lower energy bills and payments from the RHI offsets this initial outlay with savings made over time.
How to apply
To find out whether you’re eligible and to apply for the incentive, head to the government’s Domestic Renewable Heat Incentive page. The deadline for domestic RHI is March 2022.