HWEnergy can now confirm that the legislation to reform the Renewable Heat Incentive (RHI) has been laid before parliament – slightly later than had been anticipated. It is expected that this will now take approximately 8 weeks to become live.
The main change that the legislation makes for biomass heating is the shift to a single incentive payment across all boiler sizes (read our summary of the changes here). For projects that are less than 1MW in size then there is a potential financial advantage of up to £20k per annum (£400k over the 20 year RHI lifetime) to having a new installation completed before the new legislation kicks in around the end of May.
If you have a project that you think you can move on quickly then please contact us immediately on email@example.com or phone 01397 706412 to discuss.
For projects below 1MW completing after the reforms, the new RHI rates will still offer an attractive return on investment. For projects above 1MW the new rates are a 30% uplift on the old rates which is very exciting for large heat users.
The updated legislation can be found here.
Please note that existing accredited installations will not be affected by the proposed RHI changes.