It’s no secret that renewable technologies come at cost. Fortunately, there are a number of government-funded schemes in place that should help to soften the blow of the high initial payment.
- The Feed-in Tariff is designed for those who generate their own electricity, such as with solar panels and wind turbines. You’ll receive money for all the electricity you generate from the Generation Tariff, as well as any extra power you send back to the grid from the Export Tariff.
- Have a look at the Renewable Heat Incentive if you’d like to find out how much you could receive by installing renewable heating systems like biomass and heat pumps.
- The recently introduced Assignment of Rights agreement is part of the Renewable Heat Incentive. Instead of paying for the renewable heating system yourself, an approved investor can fund the installation for you. In return, you would assign your Renewable Heat Incentive income over to them.
Over time, these schemes will help you to make a significant return on your investment.