Renewable Energy Funding
While renewable energy products such as ground and air source heat pumps and solar photovoltaic (solar PV) systems offer a range of benefits, other measures such as External Wall Insulation (EWI) also have to be considered. Ice Energy can work with you to identify suitable products and determine various types of funding for which these projects are eligible. Funding has the potential to provide a significant contribution to the capital costs of projects, which will benefit you and your residents for years to come.
Benefits of working with Ice Energy as your Funding Partner
- Access to Energy Company Obligation ("ECO") funding
- "Net of Funding" Contract structures, reducing the upfront contract value of the project
- Eligibility to the Renewable Heat Incentive ("RHI") schemes through Ice Energy's accreditations
- Ongoing repayments from Government under the RHI
- Ongoing metering and maintenance packages to ensure optimal lifetime performance
- Access to bank finance to reduce the need for any upfront expenditure from the Client
- Administration service whereby Ice Energy applies for funding schemes on your behalf
Ice Energy has the ability to identify, apply for and successfully deliver funding, and has established a track record for doing so in recent years. In the last five years, Ice Energy has delivered in the region of £30M of renewable energy and low carbon projects which have received significant funding. Access to funding can be the difference between residents benefitting from reduced energy bills or continuing to face fuel poverty.
By combining ECO funding, RHI funding and bank finance, Ice Energy can design an investment solution for any housing project.
The Renewable Heat Incentive (RHI)
On April 9th 2014, the domestic Renewable Heat Incentive (RHI) was launched. The RHI pays owners of renewable energy heating technologies including heat pumps, for the renewable heat they generate.
This means that by replacing the gas, oil, direct electric or solid fuel heating systems within your housing stock, you could benefit from index-linked, tax-free payments which are guaranteed for 7 years from each and every property in which you install a heat pump.
Not only that, you will also be introducing a heating system which is so efficient it could halve the running costs of your tenants and actively address the growing issue of fuel poverty.
Below is an indication of the payments you could receive per property:
*Figures based on a 2 star system for GSHP and 3 star for ASHP which are the minimum requirements for MCS purposes. Figures will vary from property to property.
As you can see from the table above, the returns available per property within your housing stock can certainly provide a healthy ongoing revenue stream for the seven year duration of the RHI scheme. You'll also have the comfort of knowing that your residents are paying less to heat their homes, the value of your stock has increased and you won't be at the mercy of fluctuating fuel prices in the future.
And when it comes to submitting your RHI applications, the dedicated RHI team here at Ice Energy will be with you every step of the way to provide help and support should you need it.
Renewable energy funding - find out more
To learn more about the renewable energy funding schemes your organisation could benefit from, please call our dedicated Housing Team on 0808 145 2335.