5k Government grant
What does the new 5k Government grant mean for you?
Been watching the news lately and heard about the new scheme available next year? Find out what we think…
The ban of new gas boilers from 2035 has been introduced by the government and a new £5,000 grant will be available from April 2022 for households to upgrade their heating to a low carbon system, including Air Source Heat Pumps.
With the RHI (Renewable Heating Incentive schemes) due to end in March 2022, the new 5k government grant will replace the scheme to help reduce the initial cost of installing low carbon heating systems and incentivise the UK towards a greener future.
For example, a turnkey installation of one of our heat pumps, which start at around £12,000 will be essentially only cost you £7,000 since the government are paying for the remainder.
However, whilst this sounds great, is it truly the best option available?
Personally, we would advise taking full advantage of the RHI Scheme before it ends, simply because you can save the most money and best of all, do not need to wait!
RHI works based on the fact once your heat pump is installed and it will be producing renewable energy which can result in amazing cost savings and ultimately see a greener future.
When switching from LPG or oil heating systems to a Heat Pump, savings are immediate. Overtime, the available RHI re-payments can reach up to £22,000 over seven years. Switching from gas can allow re-payments of up to £12,000, more or less covering the cost of the Heat Pump installed.
Re-payments will be made quarterly to you dependent on the amount of energy that is estimated to be generated by your system for your home. It is a great way to incentivise low carbon heating systems and reward households for partaking in the RHI scheme, so although this does require a larger sum for the initial outlay, overtime you get the greatest savings. This includes future incentives since we know each one will only reduce in savings as the boiler ban becomes more imminent.
If you would like to find out if you are eligible for RHI before it is too late, please enter your details below and our team will be in touch shortly!
See how much RHI you’re eligible for!
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In 2014, the Office of Gas and Electricity Markets (OFGEM) launched the Domestic Renewable Heat Incentive (RHI). This was to promote the use of renewable methods and installation within homes to help achieve the UK’s targets for reducing carbon emissions. Thousands of homeowners have received RHI payments over the period of 7 years. The amount […]
