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Published: 09/01/2015

How Using Renewable Heat Can Save You Money on Electricity Bills

There are upfront costs to consider when it comes to installing renewable heating technology. These costs can depend on which technology you decide to go for, and the size you choose. This can range from £3,000 for solar thermal panels or anything up to £30,000 for a Ground Source Heat Pump for an average sized house. However, after utilising the technology for a period of a few years most people should see a substantial decrease in their heating bills – where the biggest savings will be for homes that are not on the gas grid.

The Renewable Heat Incentive

The Renewable Heat Incentive (RHI) works off of the principle of rewarding homes that generate heating from renewable sources.

Householders who participate will be saving money by reducing the need for gas and oil, which are steadily increasing in price year on year. They are then paid by Ofgem, the official regulator, who pay up to 18.8p/kWh for the heat and hot water you generate and use yourself and 19.2p/kWh for solar hot water respectively. There is some variation dependent on what system you use, so it is worth checking what tariff level would be applicable to you.

Use our Renewable Heat Incentive calculator to get more information.

Why install renewable heating technology?

There are many reasons to install renewable technology in your home. The Energy Saving Trust state that you will be:

·       making use of secure, local resources

·       reducing your dependence on non-renewable energy

·       helping to reduce the production of carbon dioxide and other greenhouse gases

·       creating new jobs in renewable energy industries

·       saving and even earning money.

Getting the most out of your system

If you want to make sure that your system is reaching its potential and you are saving as much as possible then it is essential to learn how to use it properly. Make sure that after installation your system is fully explained, including use of its controls, and that any manuals that come with the system are passed across to you. This is a standard and necessary part of the installation process, and any competent installer should be happy to spend time making sure that you understand.

Sources

http://www.which.co.uk/energy/creating-an-energy-saving-home/guides/renewable-heat-incentive-rhi-explained/rhi-costs-and-earnings/

http://www.energysavingtrust.org.uk/domestic/content/renewables