Government scheme to make sure switching from oil or gas really pays!
The Government has announced a scheme that aims to pay homeowners an average of £1000 a year for 18 years for switching from oil or gas to sustainable heating systems like air source heating. For larger homes the payment could be as much as £2000 a year.
The Renewable Heat Incentive is part of the Governments Clean Energy Cash back scheme, and although it’s pending formal approval, it’s expected to launch in April next year. Any homeowner installing a system between now and April next year will be able to benefit from payments made directly from Ofgem which are designed to generate a 12% a year return on investment.
Why is the Government being so generous? Heating accounts for 47% of total emissions. Less than 1% of UK heating comes from renewable sources. The Government wants to see that increase to 12% by 2020.
A Green Air Central system should generate over 30% savings in running costs compared to oil or gas. Now there is an additional financial incentive that will generate long term returns better than most ISAs or investment products.
Read more: http://www.dailymail.co.uk/property/article-1199248/Make-home-greener-council-tax.html#ixzz0PItgqnR8