You have less than three weeks to receive thousands of pounds in Government grants for renewables.
In fact, there are only 14 working days remaining to claim a renewable voucher for solar thermal panels, heat pumps or a biomass boiler.
The lucrative Government scheme is only open until March 31, so you need to act quickly to gain maximum returns on your investment. With renewable power you’ll be in a position to produce your own energy and avoid paying extortionate National Grid rates.
But as you can see in the table above, with a Renewable Heat Premium Payment (RHPP) grant you can receive as much as £2,300.
Once the Government has concluded its funding for the scheme, the Renewable Heat Incentive (RHI) is expected to become active. This means not only will you slash those expensive energy bills but you’ll also earn a fixed income for the heat generated.
The RHI will work similarly to the extremely popular feed-in tariff. It will run for seven years once your product has been registered, providing you with thousands of pounds worth of earnings over this period.
Combined with the money you’re saving on bills, you’ll ultimately see a brilliant return on investment over the system’s lifetime (estimated at 25 years or more).
What if I move home?
If you decide to move home in the future, which of course is very likely, then the chances are you won’t be able to bring the product with you. But that doesn’t mean you’ll have wasted your money on an investment.
In fact, renewables are becoming increasingly popular and the idea of cheaper bills will be an attractive proposition to many buyers. This in turn will increase the value of your home.
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Which product is best for my home?
There are two standout products which are eligible for funding under the Government RHPP and RHI schemes. These are air source heat pumps and solar thermal panels.
Air source heat pumps look similar to air conditioning units and are installed on an external wall of your home. They capture warmth from the outside air (down to -16 degree temperatures) and convert this into heat to be used in the home.
Solar thermal panels on the other hand are installed on the roof and take in the sun’s rays. These are then used to produce heat in your home, and will even operate on an overcast day.
Essentially, the choice is yours. But as energy prices continue to rise at an alarming rate, renewable energy is a sensible and attractive offer to every homeowner.
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