February News
February News
Government announces subsidy for domestic Heat Pumps!
As part of the slowly emerging policy of giving some financial incentive to home owners to invest in 'green' technology and reduce their energy coststhe Government this week announced that they were opening a 12 week consultation period on the Renewable Heat Incentive.
Their proposal is to pay a subsidy to owners of heat pumps which were installed after 15th July 2009. The suggested figures are;
Ground Source Heat Pumps, 7p/kWh for 23 years
Air Source Heat Pump, 7.5p/kWh for 18 years.
What does this mean?
For every kilowatt-hour of heat your property requires you will receive 7.5p for the next 18 years for air source and 7p for the next 23 years for ground source heat pumps.
For an average 3 bedroom semi this could mean around £1000 per year and for a detached 5 bed house around £2000 per year.
This is a significant subsidy which will make the payback period even shorter when installing renewable technologies.
For more information on this or any other aspect of reducing your energy costs please ring us on 01225 447165.
If you want to know more about Heat Pumps click on the link to the NHBC guide below:
Submitted by EMA on Wednesday 3rd February 2010
