Renewable Heat Incentive announced

DECC finally announced the RHI today. The details can be read here. The content is not particularly new but at last we have a solid commitment to get this incentive working. It is significant that the full payments will start in October 2012 and are timed to coincide with the Green Deal. If this is an example of cross Government working in a new way to coordinate efforts and policies, then it is a positive start.

In the interim there is a fund called the RHI Premium Payment which is worth £15m and will cover the purchase price of renewable heating systems to get the market moving. This will be mainly focussed on properties off the gas grid. More details of this will be released in May.

For new build homes there will be a separate tariff from 2012.

All tariffs will last for twenty years.

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