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Financial Incentives
Saving Energy and Money
Low cost and efficient renewable energy generation and use is the future for both domestic and commercial buildings. ESP is a market leader in designing and supplying equipment and systems that use freely available energy (or energy that has always been wasted) to heat buildings, deliver hot water, provide ventilation and generate electricity.
Our equipment and systems are proven to deliver low cost heating, hot water, ventilation and power, as well as a return on investment/payback in shorter time scales than other offerings. Our equipment and systems also attract grants and ongoing payments from government incentive schemes such as the Renewable Heat Incentive Scheme that makes their use even more attractive. We have been helping Clients access these financial rewards for as long as the schemes have been running – we have a depth of experience in this area that is unrivalled.
Renewable Heat Incentive (RHI)
The Renewable Heat Incentive (RHI) Scheme is the primary source of government provided funding relating to the installation of heat pump systems. The Scheme is very accessible and worthwhile pursuing. There are criteria to be met in order to have access to the RHI Scheme, but we will explain everything to you – we have helped thousands of our Clients gain access to payments from the RHI Scheme.
Payments from the RHI Scheme are available through a domestic scheme for householders and the non-domestic scheme for businesses and Landlords. Payments from the RHI Scheme are based upon the amount of “renewable heat” generated by a system, with payments being made quarterly for 7 years under the domestic scheme and 20 years for the non-domestic scheme. For the domestic RHI Scheme there is a maximum limit of support that is 20,000kW/hrs a year (slightly more than £2,000 a year based upon the current tariff).
We assist our Clients in accessing the RHI Scheme as well as ensuring that the systems that we design and supply are eligible under the Scheme.
The RHI Scheme is designed to pay back the difference in cost between a fossil fuel (boiler) system and an air source heat pump system PLUS a return for investing the capital up front.
Further information about the RHI Schemes is available here:
Gas and Oil Prices
It is important to understand that, if you install an air source heat pump system to deliver your heating and hot water, you will no longer be subjected to the constant price swings that plague the fossil fuel industry. All of your heat can be supplied by an air source heat pump and you will no longer have to buy expensive (and dirty) oil and gas.
Energy Bills
Generating your own heat from renewable sources has many benefits. The installation of renewable heat equipment eliminates the high energy bills associated with gas, oil and electricity used to power heat generated at source.
Whilst renewable energy may still incur costs, the Renewable Heat Incentive has been designed to issue payments which exceed or are equal to these costs. This structure guarantees that by generating heat from renewable sources each participant will have financial gain.